LiveMore has cut rates on retirement interest-only (RIO) and standard mortgages until the end of July.

The reductions apply across standard capital and interest, standard interest-only, and RIO products, including the ‘Up to 100% Debt Consolidation’ product. The rate changes do not apply to their lifetime (equity release) mortgages.

Changes include a reduction of 50 basis points (bps) on a LiveMore1 two-year fixed RIO mortgage, with all other RIO products reduced by 10bps. For standard mortgages, LiveMore has cut the price by 20bps across all products.

Customers can now secure a five-year fixed standard term product at 5.64%, a five-year fixed RIO mortgage at 5.89%, or a fixed for life rate at 6.39%.

Les Pick (pictured), LiveMore’s director of intermediary sales, said: “While the cost of living has levelled off a bit, many borrowers aged 50 to 90 plus are still coming to terms with the higher costs of living. We hope that these rate reductions support our customers through these challenging times and help them with their future goals.”