LiveMore has reduced rates on its lifetime mortgages.

LiveMore’s Lifetime Mortgage – Lite pricing has been cut by 29 basis points (bps) from 5.78% to 5.49%.

Meanwhile, its Lifetime Mortgage – Standard pricing is down 25bps, from 5.93% to 5.68%.

Les Pick (pictured), LiveMore’s director of intermediary sales, 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.

“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.

“We appreciate that keeping up with rate changes in the current market can be challenging for brokers, so we’ve made our rates easy to access on the LiveMore Mortgage Matcher on our website.”