LiveMore cuts standard and RIO mortgage rates by up to 0.74%

LiveMore has reduced rates on standard mortgages (capital & interest and interest-only) and retirement interest-only (RIO) products by up to 0.74%.

RIO rates have been reduced on all LiveMore 1 products, including for two-year, five-year, 5+5year, 10 year and fixed-for-life mortgages. Five-year fixed rates have reduced by 0.19%, from 6.18% to 5.99%.

Standard mortgage LiveMore 1 rates are reduced by up to 0.74%. Two-year fixed rates are down from 7.28% to 6.54% while five-year fixed rates move down from 5.99% to 5.84%. At the same, 10-year fixed rates have decreased from 6.43% to 6.28% and 5+5 year fixed rates have been cut from 6.83% to 6.68%.

The latest rate reductions follow LiveMore’s announcement earlier in the month that it has removed the maximum borrower age and increased the maximum mortgage term to 40 years across standard mortgages.

Samantha Ward, LiveMore’s head of proposition strategy and development, said: “As a lender dedicated to serving customers from 50 to 90+, we understand challenges continue to arise with the cost of living. We believe everyone deserves financial solutions to support their borrowing requirements and that’s why we are committed to reducing rates wherever and whenever possible.”