LiveMore has cut rates across its LiveMore 1 range for borrowers aged 50 to 90-plus by 22 basis points, with products now starting at 5.97%.  

The later life lender uses a four-tier structure, which allows brokers to match their clients to the most appropriate mortgage.   

LiveMore 1 is the firm’s lowest rate tier, with a maximum loan amount of £500,000 up to 60% loan to value.  

LiveMore head of intermediary sales Phil Quinn says: “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.”  

Also, the lender has brought back its the Fixed For Life option in its retirement interest-only range, with rates starting at 6.12%.   

The firm’s retirement interest-only loans are available to a greater range of people after it lowered its minimum qualification age to 50 from 55 last month.  

This is the second time the business has cut rates this year, after reducing its entire range by 50bps two weeks ago.  

Quinn adds: “This included our fee-assisted range which comes with a free standard valuation and has a zero-product fee.”