It reduces rates across its entire range by up to 0.71%
Later life lender LiveMore has announced a further reduction in mortgage rates, slashing them by up to 71 basis points (bps) across its entire product portfolio.
The lender, catering exclusively to individuals aged 50- to 90-plus, has implemented rate reductions across standard capital and interest, standard interest-only, retirement interest-only (RIO), and lifetime or equity release mortgages.
The most significant rate reduction was made on two-year fixed rates for both standard and RIO mortgages. Meanwhile, five-year fixed rates have seen a decrease of 65bps, with 5+5 and 10-year fixed rates dropping by 42bps. Fixed-for-life RIO mortgages are down by 40bps.
LiveMore, which also reduced rates on all products last month, has again made its equity release products more affordable, with a decrease of up to 47bps on its lifetime mortgage range. Additionally, its Property Plus products, designed to offer favourable terms for properties often considered less popular by lenders, have seen reductions of up to 22bps.
“For the third time since the start of December, we’re very glad to be able to pass on to borrowers and brokers the benefits of a growing confidence in the housing market and reduced swap rates,” Tim Wellard (pictured), product manager at LiveMore, said.
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