LiveMore, the lender for over-50s, launches first automated DIP

By Gloria Methri

LiveMore Mortgages has built a new loan origination platform, incorporating a comprehensive Decision in Principle (DIP) capability, for enhanced broker and customer journey. This enriched DIP helps brokers deliver tailored service to their clients through immediate decisions in principle across LiveMore’s entire product range over a shorter time frame.

LiveMore is a mortgage lender for the 50-90+ age group, set up in 2020. Over the past nine months, LiveMore’s technology team has created a flexible architecture with easy-to-use affordability calculations and an automated DIP along with ESIS forms. Full mortgage applications can then be submitted and there is no rekeying of information as it is stored automatically.

The automated DIP returns an immediate response on declared information and conducts a soft credit search at the same time. The system can also show the maximum borrowing amount on different products, taking into account all income and circumstances such as unusual property construction, debt consolidation, and adverse credit.

Leon Diamond, CEO and founder of LiveMore said, “Having built up LiveMore into a successful, highly capable, and competitive lender shaking up the 50-90+ mortgage space, it made perfect sense for us to bring our technology in-house. The timing was right and our expert technology team has been busy creating this state-of-the art DIP and origination portal. Going forward, we have a roadmap of improvements so the next stage will be working on new functionality to enrich the broker journey even more.”

LiveMore’s roadmap consists of innovative features such as a counter-offer and affordability sandbox. With the counter-offer, if one product doesn’t work, LiveMore will automatically suggest a potential alternative, so brokers will have a product to offer their clients. There is also work being undertaken on an affordability sandbox, experimenting with income and assets to maximise affordability for clients.