This follows the recent 0.50% rate reduction across its entire range
LiveMore has reduced rates by 22 basis points (bps) across its LiveMore 1 range for borrowers aged 50- to 90-plus, with products now starting from 5.97%.
The later life lender’s product range has a four-tier structure, which allows brokers to match their clients to the most appropriate mortgage for their needs. LiveMore 1 is the lowest rate tier in the structure with a maximum loan amount of £500,000 at up to 60% loan-to-value (LTV).
LiveMore has also reintroduced the fixed for life option on its retirement interest-only (RIO) range, with rates starting at 6.12%.
The lender’s RIOs are available to more people now with last month’s lowering of minimum age to 50 from 55. It has also recently slashed rates on all products by 0.50%.
“We’re thrilled to be able to reduce our rates for the second time this year, having reduced our entire range by 50bps two weeks ago,” Phil Quinn (pictured), head of intermediary sales at LiveMore, said. “This included our fee-assisted range which comes with a free standard valuation and has a zero product fee.
“The latest rate reduction across the LiveMore 1 range applies to both interest-only and repayment mortgages which are available to anyone over the age of 50.”
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