The rate of its five-year, fixed standard, interest-only product is now 6.15%
Later life lender LiveMore has reduced rates across all its mortgage products by up to 29 basis points (bps) to support more older borrowers.
Also in response to growing confidence in the housing market, LiveMore, which lends exclusively to borrowers aged 50 to 90-plus, made rate reductions across its retirement interest-only (RIO), standard interest-only, standard capital and interest, and lifetime mortgages.
The lender’s new lowest rate is on its five-year fixed standard interest-only mortgage, which has been reduced by 23bps to 6.15%. The rates on its RIO mortgages now start at 6.30%, down from 6.53% on its fee range, and now start from 6.50% on its fee-assisted range. Equity release rates have dropped by 10bps.
LiveMore has also lowered its 5+5-year and 10-year fix by 18bps, with its 5+5-year fix starting from 6.60% and 6.20% for 10-year fixed rates.
“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,” said Tim Wellard (pictured), product manager at LiveMore. “As a result, we have been able to reduce rates on all our mortgage products, which should help brokers and their customers.”
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