The later life lender’s retirement interest-only fixes have been reduced on all of its LiveMore 1 products, including for two-year, five-year, five+five-year, 10-year and fixed-for-life mortgages.   

For example, five-year fixed rates are down by 19bps, to 5.99%.   

Its standard mortgage LiveMore 1 rates have been reduced by up to 74bps. Two-year fixed rates are down from 7.28% to 6.54% while five-year fixed rates move down from 5.99% to 5.84%.

While 10-year fixed rates are reduced from 6.43% to 6.28%. Five+five-year fixed rates have been cut from 6.83% to 6.68%.  

Its standard range covers capital and interest, and interest-only loans.  

LiveMore head of proposition strategy and development Samantha Ward says: “As a lender dedicated to serving customers from 50 to 90-plus, we understand challenges continue to arise with the cost of living.   

“We believe everyone deserves financial solutions to support their borrowing requirements and that’s why we are committed to reducing rates wherever and whenever possible.”  

Last week, the lender removed the maximum borrower age and increased the maximum mortgage term to 40 years across standard mortgages.