London based Paul Hastings advises on first public securitisation of later life mortgages for Livemore Capital

Paul Hastings (Europe) LLP has successfully advised LiveMore Capital, a UK-based specialty mortgage lender targeting the 50 to 90+ age segment, on pricing its first public securitisation of residential mortgages.

This landmark transaction, valued at £208 million, represents a significant milestone for LiveMore as it ventures into the public securitisation market. The Simple, Transparent and Standardised (STS) deal involved securitising a portfolio of retirement interest-only mortgages and standard mortgages. This initiative enables LiveMore to broaden its investor base and secure a diversified funding platform to support its expanding business.

Paul Hastings has provided comprehensive legal counsel to LiveMore since its inception in 2018, guiding the lender through its initial FCA authorisation, product launches, capital raising, and substantial growth despite macroeconomic challenges like COVID-19, interest rate fluctuations, and political uncertainty. This transaction underscores Paul Hastings' expertise in innovative financial products and its commitment to helping clients achieve their strategic goals.

Partner Paul Severs remarked, “We are delighted to have supported LiveMore on its inaugural securitisation. This transaction not only reflects the growing demand for later life mortgage products but also highlights LiveMore’s leadership in the market. We are proud to have played a role in helping them achieve this significant milestone.”

The successful completion of this transaction is expected to foster further innovation and growth in the later life lending sector, enhancing access to underserved segments of the mortgage market and addressing the needs of an aging population.

The Paul Hastings team was led by Partner Paul Severs, with associates Tim Earle, Kyle Dunn, and Cristiana Evans.