Just 24 hours since swap rates reduced, LiveMore has lowered rates across selected mortgage products by up to 55 basis points.

Catering for borrowers aged 50-90+, LiveMore’s rate reductions are across its retirement interest-only (RIO), standard interest-only and capital & interest mortgages.

Earlier this week LiveMore launched its 5+5-year fixed rate mortgage, which is a 10-year fix with no early repayment charges after year five, meaning borrowers are free to leave without penalty.

The rates on the 5+5 products now starts at 6.94% down from 7.04%, while Fixed for Life rates are down 25 basis points starting at 6.94%.

Tim Wellard, product manager at LiveMore, commented: “It seems that the fall in inflation from 8.7% to 7.9% has had a positive effect on swap rates which have decreased in the last day. Consequently, we have been able to reduce rates on our mortgage products, which are often taken by people who the high street ignores because they are approaching or beyond retirement age.”