Livemore’s Mortgage Rates Dropped

If you’re over 50 and thinking about a mortgage, or need to remortgage, there’s some good news! LiveMore, a lender specialising in mortgages for older borrowers, has just slashed their rates, meaning you could save some serious money on your monthly payments.

Lower Rates for Retirement Mortgages

LiveMore has reduced rates on their retirement interest-only mortgages, which are designed specifically for people who are planning to use their home equity to fund their retirement. This means you could borrow more money, or keep your monthly payments lower, even if you’re approaching retirement.

The biggest cuts are on their “LiveMore 1” products, covering a range of fixed-rate mortgages, from two to 10 years and even for life. Here are some examples of the new rates:

  • Five-year fixed: Now 5.99%, down from 6.18%. That’s a saving of 19 basis points!
  • Ten-year fixed: Now 6.28%, down from 6.43%

Standard Mortgages Also Cheaper

LiveMore has also cut rates on their standard mortgage products, which include capital and interest loans as well as interest-only options. These reductions are even bigger, with some rates dropping by as much as 74 basis points!

Here are a few of the new rates:

  • Two-year fixed: Now 6.54%, down from 7.28%
  • Five-year fixed: Now 5.84%, down from 5.99%

Why Are Rates Going Down?

LiveMore says they understand the pressure on people’s finances and are committed to offering affordable solutions, especially to older borrowers.

These cuts are good news for anyone over 50 looking to take out a mortgage, or refinance their existing one. It’s always worth checking out the latest rates from different lenders to see what deals are available.

Remember: It’s important to speak to a qualified financial advisor to discuss your individual circumstances before making any decisions about your mortgage.