Specialist lender LiveMore has expanded its product range to include retirement interest-only purchase mortgages.

The products are available for borrowers who are 55 years old or over and at a maximum LTV of 75 per cent.

They are available in five-, seven-, 10- and 20-year fixes and rates start at 3.95 per cent. Lifetime fixed rates start at 4.35 per cent.

Each commands a £995 product fee.

LiveMore director of sales Alison Pallett says: “These are exciting times for us – with the current Stamp Duty holiday, many older borrowers will be seeing this as an opportunity that they can benefit from and so the time is right to extend our offering to these customers and help them on their journey”.

“We have listened closely to intermediaries’ needs and this enhancement is in direct response to what we are seeing in the market where our intermediary partners are reporting record levels of enquiries in the house buying space and we are in a fortunate position to be able to react quickly to their requests.

“At time when there is increased regulatory spotlight on equity release selling practices, RIO has a great place in any good intermediary’s armoury and now was the right time to extend our offering to include house purchase mortgages.”