Later life lender cuts rates across all mortgages

LiveMore, the mortgage lender for people aged 50 to 90 plus, has reduced rates across all of its products.

It has cut the rates on its fixed-for-life retirement interest-only (RIO) mortgage by 0.20 percentage points, and all on other RIO mortgages by 0.25 percentage points.

The lender’s standard repayment and interest-only mortgages are also down by 0.25 percentage points. This means that LiveMore’s standard interest-only five-year fixed fee range will now start at 6.13% and its 10-year fixed at 6.03%.

Equity release rate cuts

LiveMore has also cut lifetime mortgage (equity release) products by 0.20%, with rates now starting at 6.38%.

Tim Wellard, senior proposition manager at LiveMore, said: “It is important to us that we continue to offer a broad and highly competitive product offering to our clients through our mortgage broker partners.”