LiveMore, the mortgage lender for people aged 50 to 90 plus, has reduced rates on retirement interest-only (RIO) and standard mortgages until the end of July.
The reductions apply across standard capital and interest, standard interest-only, and RIO products, including the ‘Up to 100% Debt Consolidation’ product.
The rate changes do not apply to their lifetime mortgages.
Changes include a reduction of 0.50% on a LiveMore1 2-year fixed RIO mortgage, with all other RIO products reduced by 0.10%.
For standard mortgages, LiveMore has cut the price by 0.20% across all products.
Customers can now secure a 5-year fixed standard term product at 5.64%, a 5-year fixed RIO mortgage at 5.89%, or a fixed for life rate at 6.39%.
Les Pick (pictured), LiveMore’s director of intermediary sales, said: “While the cost of living has levelled off a bit, many borrowers aged 50 to 90 plus are still coming to terms with the higher costs of living.
“We hope that these rate reductions support our customers through these challenging times and help them with their future goals.”
To qualify for the rate reductions, intermediaries have until midnight on 31st July 2024 to submit full applications.
