Rates are reduced by up to 0.58%
Later life lender LiveMore has reduced rates across a wide range of products by up to 0.58%.
The cuts include five-year fixed rates on retirement interest-only (RIO) mortgages, standard interest-only, and standard capital and interest mortgages. Rates on Lite, Standard, and Property+ lifetime mortgages have also been reduced.
Rates for the five-year LiveMore 1 standard capital and interest and standard interest-only products are down by 0.54%, now starting at 5.99%. This reduction applies to the 60% and 70% loan-to-value (LTV) tiers and the fee-assisted range.
For the five-year LiveMore 1 RIO products, the rate has decreased by 0.50%, now starting at 6.18% – a reprice that applies to the 60% and 75% LTV tiers and the fee-assisted range. Rates for equity release products are down by 0.58% and now start from 6.11%.
There are no changes to the lender’s Up to 100% Debt Consolidation products, which were launched earlier this week.
“The new rates offer customers more competitive rates, as we continue to support customers wanting to solve their later life lending challenges,” said Tim Wellard (pictured), senior proposition manager at LiveMore.
“These reductions come on the back of the launch of our monthly £1,000 Affordability Calculator competition, aimed at simplifying the complexities of affordability for brokers.”
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