LiveMore has hired Paul Lewis from brokerage Mortgage 1st Ltd to replace Les Pick as sales director of mortgages, as Pick moves to a newly created equity release role.
Lewis was formerly the head of partnerships at Mortgage 1st, and prior to his time at the Derbyshire-based brokerage, he held a number of senior roles in financial services over a career spanning two decades, including national development manager at Mansfield Building Society.
Lewis replaces Pick, who moves into the position of sales director of equity release to drive growth in this sector as the lender looks to expand its later life proposition.
The lender recently launched four new and updated later life products that come with a drawdown option, allowing it to enter the larger drawdown segment of the equity release market.
According to the latest figures from the Equity Release Council, 56% of all new plans were taken as drawdown rather than lump sum, which the trade body said indicated that customers were holding out for the potential to make future drawdowns at lower rates if pricing continued to fall.
Leon Diamond (pictured), chief executive of LiveMore, said: “We’re delighted to welcome Paul to the team at such an exciting time for LiveMore. His experience and track record in financial services will be invaluable as we continue to expand and innovate.
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“At the same time, we are thrilled that Les will be leading our equity release strategy. He has been instrumental in our success to date, and his passion for the market will ensure LiveMore remains at the forefront of later life lending. This is a fantastic step forward for our business and the customers we serve.”
