LiveMore’s ‘Lifetime Mortgage – Lite’ pricing has been cut by 0.29%, from 5.78% to 5.49%. The lender’s ‘Lifetime Mortgage – Standard’ pricing is down 0.25%, from 5.93% to 5.68%.

Commenting on the changes  LiveMore’s director of intermediary sales Les Pick said: “These rate cuts are aimed at further helping suitable homeowners aged 55 plus to unlock the wealth tied up in their property.

“They might want to supplement their retirement income, pay off outstanding debts, fund home improvements, provide early inheritance to loved ones or set money aside for future care costs.

He added: “It’s important to acknowledge that equity release isn’t suitable for everyone, however; we also offer Standard Capital & Interest, Standard Interest-Only and Retirement Interest-Only (RIO) mortgages.”