LiveMore cuts rates on 5-year mortgages

LiveMore, the mortgage lender for people aged 50 to 90 plus, has reduced rates across a wide range of products by up to 0.58%.

The cuts span its 5-year fixed rates on retirement interest only (RIO), standard interest-only and standard capital and interest mortgages.

It has also reduced rates on their Lite, Standard and Property+ lifetime mortgages (equity release).

Rates are reduced by 0.54% on its 5-year LiveMore 1 standard capital and interest and standard interest-only products. They now start at 5.99%.

The reduction applies to the 60% and 70% loan-to-value (LTV) tier and the fee-assisted range.

On their 5-year LiveMore 1 RIO products, the rate is down by 0.50%, now starting at 6.18%.

This applies to the 60% and 75% LTV tier and the fee-assisted range.

For their equity release products, rates are down by 0.58% and start from 6.11%

There are no changes to their ‘Up to 100% Debt Consolidation’ products, which they launched earlier this week.

Tim Wellard (pictured), 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.

“These reductions come on the back of the launch of our monthly £1,000 Affordability Calculator competition, aimed at simplifying the complexities of affordability for brokers.”