LiveMore, the mortgage lender for people aged 50 to 90-plus, has made rate reductions across its range of products by up to 1.06%.
The greatest rate cuts apply to longer term fixes, while July’s ‘limited edition’ rate cut to 2-year fixes has been made permanent.
The rate reductions apply across LiveMore 1 – 4 products for Standard Interest-Only, Standard Capital & Interest, and Retirement Interest-Only (RIO) mortgages.
LiveMore 1 standard five-plus-5-year fixed-rate mortgage is down by 1.06% from 6.48% to 5.42%.
This means that the five-plus-5-year fixed-rate mortgage is now only 0.09% higher than the 5-year fixed-rate mortgage.
The lender has also reduced LiveMore 1 RIO five-plus-5-year fixed-rate mortgage by 1.02% and LiveMore 1 5-year fixed rate mortgage for both standard and RIO by 0.31%.
LiveMore 1 10-year fixed rate on RIO and standard and fixed-for-term are now down by up to 0.71%.
The cuts do not apply to LiveMore’s Lifetime Mortgage (equity release) products.
Les Pick (pictured), LiveMore’s director of intermediary sales, said: “We want to offer our customers flexibility as well as stability, and these rate reductions support this strategy.
“For example, the five-plus-5-year fixed-rate mortgage offers 10 years of certainty, with no early repayment charges (ERCs) after five years.”