Equity Release

Later life lender cuts rates on five-year fixed products

Later life lender cuts rates on five-year fixed products
Christina Hoghton
Written By:
Christina Hoghton

LiveMore has reduced rates across a wide range of products by up to 0.58 percentage points

The later life mortgage lender, catering to people aged 50-plus, has cut the cost of its five-year fixed rates across retirement interest-only (RIO), standard interest-only and standard capital and interest mortgages.

It has also reduced rates on its equity release range, including Lite, Standard and Property+ lifetime mortgages.

What’s new?

The lender’s five-year standard capital and interest and standard interest-only products now start at 5.99%.

The five-year RIO products now start at 6.18%, and the lender’s equity release products start from 6.11%.

Tim Wellard, senior proposition manager at LiveMore, said: “The new rates offer customers more competitive rates, as we continue to support customers wanting to solve their later life lending challenges.”

Related: Homeowners take ‘wait-and-see’ approach to equity release