LiveMore reduces all later life mortgage rates

LiveMore has lowered rates across all of its mortgage products by up to 0.29%.

Lending exclusively to borrowers aged 50-90+, LiveMore’s rate reductions are across its retirement interest-only (RIO), standard interest-only, standard capital & interest and lifetime amortgages.

Its five-year fixed standard interest-only mortgage has dropped 0.23% to 6.15%. The rates on its RIO mortgages now start at 6.30%, down from 6.53%, on its fee-paying range, and from 6.50% on its fee-assisted range.

In addition, equity release rates have dropped by 0.10%.

The lender has also lowered its 5+5-year and 10-year fix by 0.18%, with its 5+5-year fix now beginning at 6.60% and its 10-year fixes from 6.20%.

The 5+5-year fixed rate mortgage provides the certainty of a 10-year fixed rate with the flexibility for borrowers to redeem the product after five years with no early repayment charges.

Tim Wellard, product manager at LiveMore, commented: “With swap rates continuing to stabilise, confidence in the housing market is on the up and at LiveMore following two exceptional months, we are keen to support more borrowers. As a result, we have been able to reduce rates on all our mortgage products, which should help brokers and their customers.”