The transaction, valued at £215 million, represents a significant step for LiveMore, the later life lending pioneer as it continues to develop innovative lending solutions tailored to older borrowers.

The securitisation, named Exmoor Funding 2025-1, is structured under LiveMore’s Social Bond Framework and aligns with the International Capital Market Association’s (ICMA’s) global principles for social bonds as confirmed by a Second Party Opinion from ISS ESG, affirming its standard mortgage lending qualifies as an eligible social project focused on financial inclusion.

Through LiveMore’s Social Bond Framework, it enables capital markets to fund loans that promote financial inclusion and socioeconomic advancement and empowerment to typically overlooked customers.

Reed Smith also advised on the prepayment and repurchase terms under the existing warehouse, and warehouse sub-loan repo funding, documentation, and the funding of LiveMore’s vertical risk retention holding.

The Reed Smith team advising on the deal was led by partners Sarah Caldwell and Katie Grace, senior associate Nilufer Tufanoglu and associates Vasia Chorafa and Rachel Warner with support from other cross-practice groups including partners Romin Dabir, Tallat Hussain, Aaron Javian, Jeff Stern, and Harriston Stimson as well as counsel Colin Cochrane and Imran Roy.