Specialist later life lender LiveMore has announced a package of interest rate reductions across its Standard and Retirement Interest Only (RIO) mortgage products.

Changes take effect from 9am today (Friday 20 June).

The rate cuts apply to most of the lender’s LiveMore 1 through to LiveMore 4 product tiers.

RIO mortgages see reductions of up to 0.49%, while Standard products are lowered by as much as 0.43%.

Rates on Standard mortgages — which include capital and interest, interest only, and part and part options — now start from 5.48%.

LiveMore’s decision is intended to improve affordability and access for borrowers aged 50 to 90 plus, a segment often underserved by traditional lenders.

Paul Lewis (pictured), sales director of mortgages at LiveMore, said: “We’re always looking for ways to better support brokers and their clients. These latest rate reductions reflect our commitment to making later life lending more accessible and affordable for a wider range of customers.

“As the market continues to evolve, we remain focused on offering flexible, competitive solutions that meet the needs of older borrowers.”