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LiveMore launches limited-edition rates for July

Shekina Tuahene
Written By:
Posted:
July 18, 2024
Updated:
July 18, 2024

Later life mortgage lender LiveMore has reduced rates across its retirement interest-only (RIO) and standard mortgages for a limited period.

The lower rates will be available throughout July, and apply to standard capital and interest, standard interest-only, and RIO products, including Livemore’s up to 100% debt consolidation product. 

The rates of the lender’s equity release mortgage products will remain unchanged. 

LiveMore has reduced the rate of a two-year fixed RIO deal by 0.5%, while other RIO rates have declined by 0.1%. 

Elsewhere, the lender has reduced standard product rates by 0.2%. 

Now, the five-year fixed standard term product has a rate of 5.64%, the five-year fixed RIO is priced at 5.89% and the fixed for life mortgage rate is 6.39%. 

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Les Pick (pictured), director of intermediary sales at LiveMore, said: “While the cost of living has levelled off a bit, many borrowers aged 50 to 90-plus are still coming to terms with the higher costs of living.

“We hope that these rate reductions support our customers through these challenging times and help them with their future goals.”

To qualify for the rate reductions, intermediaries have until midnight on 31 July 2024 to submit full applications. 

The lender has already made reductions to its pricing, cutting its product rates by as much as 0.74% last month. Also in June, LiveMore completed a residential mortgage-backed securitisation (RMBS) at a value of £208.1m, which was its first social bond.