LiveMore cuts rates and widens LTV bands

Seven, 10 and 20 year fixed rates now start at 3.55%, 3.74% and 4.05% respectively. Five-year fixed rates now start at just 3.40% with a lifetime fixed rate at 3.90%.

LiveMore's mortgages are available to borrowers aged over 55 with no maximum age limit. It has also increased its lowest rate band from 50% to 60% LTV.

LiveMore's director of sales, Alison Pallett, commented: “Today is a huge day for LiveMore as with our new rates we’ll be able to help more borrowers aged over 55 who need an interest-only mortgage.

"We have widened our lowest rate band from 50% to 60% LTV and at 75% we can lend more than any of our competitors and we have no maximum age limit. We are also able to accept income beyond a 'traditional' retirement age where it’s plausible, particularly helpful for the self-employed or business owners.

“More mature borrowers, and the intermediaries trying to help them, have been crying out for a lender that properly addresses their needs. We do this with great products, flexible criteria and a fresh and realistic view of affordability – in other words; a much-needed return to common sense.”