back Back

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

By Gloria Methri

August 08, 2023

  • Auto Loan Decisioning
  • Decision in Principle
  • Digital Mortgages
Share

LiveMore Mortgages, LiveMore, Lending, UKLiveMore 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.

Previous Article

August 08, 2023

Tookitaki offers Compliance-as-a-Service solution for financial SMEs

Read More
Next Article

August 08, 2023

Provenir opens new London office amid continuous growth in the UK

Read More






IBSi Daily News Analysis

June 21, 2024

Auto Loan Decisioning

Industry experts react after India FIU fines Binance $2.2m, signaling tougher digital asset regulations

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

June 21, 2024

Niyogin Fintech appoints Sanket Shendure as the Chief Product & Growth Officer

Read More

June 21, 2024

FinTech Focus: Catch latest developments of the week

Read More

June 21, 2024

Curlec & Seedflex strengthen businesses in Malaysia with PAYS Advance

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023