LiveMore cuts later life mortgage rates by up to 0.71%

Following its December rate reductions, LiveMore has further reduced mortgage rates across its entire range of products by up to 0.71%.

LiveMore, which lends exclusively to people aged 50 to 90+, has reduced rates across its standard capital and interest, standard interest-only, retirement interest-only (RIO) and lifetime mortgages.

The greatest reduction is on two-year fixed rates across standard and RIO mortgages, which have dropped by 0.71%. Five-year fixed rates have reduced by 0.65% and the lender's 5+5 and 10-year fixed rates have dropped by 0.42%. Fixed-for-life RIO mortgages are also down by 0.40%.

In addition, LiveMore has reduced its equity release products by up to 0.47% on the lifetime mortgage range. The firm’s Property Plus products have reduced by up to 0.22%.

Tim Wellard, product manager at LiveMore, said: “For the third time since the start of December, we’re very glad to be able to pass on to borrowers and brokers the benefits of a growing confidence in the housing market and reduced swap rates.”