LiveMore, the mortgage lender for people aged 50 to 90-plus, has reduced rates across its lifetime mortgage offering.
LiveMore’s ‘Lifetime Mortgage – Lite’ pricing has been cut by 0.29%, from 5.78% to 5.49%.
The lender’s ‘Lifetime Mortgage – Standard’ pricing is down 0.25%, from 5.93% to 5.68%.
These rate reductions follow LiveMore rate reductions last month, when the lender cut rates by 0.35% on LiveMore 2, 3 and 4 products for Standard and Retirement Interest Only (RIO) mortgages, and by up to 0.15% on LiveMore 1 products.
Les Pick (pictured), LiveMore’s director of intermediary sales, said: “These rate cuts are aimed at further helping suitable homeowners aged 55 plus to unlock the wealth tied up in their property.
“They might want to supplement their retirement income, pay off outstanding debts, fund home improvements, provide early inheritance to loved ones or set money aside for future care costs.
“It’s important to acknowledge that equity release isn’t suitable for everyone, however; we also offer Standard Capital and Interest, Standard Interest-Only and RIO mortgages.
“We appreciate that keeping up with rate changes in the current market can be challenging for brokers, so we’ve made our rates easy to access on the LiveMore Mortgage Matcher on our website.”
