Reductions were made across LiveMore’s retirement interest-only (RIO), standard interest-only and capital and interest mortgages.

LiveMore recently launched a 10-year fixed mortgage with no early repayment charges or penalties for leaving after the fifth year. Rates start from 6.94 per cent, down by 0.1 per cent and the fixed for life rate has been reduced by 25 basis points to 6.94 per cent.

Tim Wellard (pictured), product manager at LiveMore, said: “It seems that the fall in inflation from 8.7 per cent to 7.9 per cent has had a positive effect on swap rates which have decreased in the last day.

“Consequently, we have been able to reduce rates on our mortgage products, which are often taken by people who the high street ignores because they are approaching or beyond retirement age.”

MPowered Mortgages and Gen H were among some of the other lenders that reacted to falling swap rates by lowering their mortgage pricing.

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