LiveMore cuts mortgage rates by up to 1.06%

Later life mortgage lender, LiveMore, has announced extensive rate reductions of up to 1.06% across its product ranges. 

The greatest rate cuts apply to longer term fixes, while July’s ‘limited edition’ rate cut to two-year fixes is now permanent.

The rate reductions apply across LiveMore 1 – 4 products for standard interest-only, standard capital & interest, and retirement interest-only (RIO) mortgages.

The LiveMore 1 standard five-plus-five-year fixed rate mortgage is down by 1.06% from 6.48% to 5.42%. This means that the mortgage is now only 0.09% higher than the five-year fixed rate mortgage.

The lender has also reduced its LiveMore 1 RIO five-plus-five-year fixed rate mortgage by 1.02% and LiveMore 1 five-year fixed rate mortgage for both standard and RIO by 0.31%.

In addition, LiveMore 1 10-year fixed rates on RIO and standard and fixed-for-term have reduced by up to 0.71%.

The cuts do not apply to LiveMore’s lifetime mortgage products.

Les Pick, LiveMore’s director of intermediary sales, said: “We want to offer our customers flexibility as well as stability, and these rate reductions support this strategy. For example, the five-plus-five-year fixed rate mortgage offers 10 years of certainty, with no early repayment charges after five years.”