LiveMore’s £1k affordability calculator competition prompts reduced rates

The mortgage lender for customers aged 50 to 90+ has made cuts to its five-year fixed rates on retirement interest-only (RIO), standard interest-only, standard capital, and interest mortgages. LiveMore has also reduced rates for its Lite, Standard, and Property+ lifetime mortgages (equity release).

LiveMore’s five-year 1 standard capital & interest and standard interest-only product rates have reduced by 0.54%, now starting at 5.99%. This reduction also applies to its 60% & 70% loan-to-value (LTV) tier and the fee-assisted range.

Its five-year 1 RIO product rates have decreased by 50%, starting at 6.18%. This also applies to its 60% & 75% LTV tier and the fee-assisted range.

LiveMore’s equity release product rates have reduced by 0.58%, starting at 6.11%. Rates for its ‘Up to 100% Debt Consolidation’ products remain unchanged.

Tim Wellard, Senior Proposition Manager at LiveMore, said “The new rates offer customers more competitive rates, as we continue to support customers wanting to solve their later life lending challenges.” He explained that these rate reductions come on the back of its monthly £1k affordability calculator competition, aimed at simplifying the complexities of affordability for brokers.