50+ mortgage lender, LiveMore, has announced new Spring Special limited edition rates, reduced rates on its core range and an update to its borrower eligibility criteria.
The Spring Specials are available on the lender's standard mortgage and retirement interest-only (RIO) products, with rates up to 0.59% lower than LiveMore's core range. Two-year fixed rates are available from 5.88% with a £995 product fee, which can be added to the loan.
The limited edition range offers free valuations on property values up to and including £2 million (as well as assisted legal fees for remortgages as normal).
In addition, LiveMore has repriced its core standard and RIO mortgage products, with reductions across all LiveMore 2, 3 and 4 products and the 'up to 100% debt consolidation' products except the two-year fix. LiveMore 2 products have seen rate reductions of up to 0.34% and LiveMore 3 and 4 products are down by 0.20%.
Following broker enquiries, LiveMore has also lowered the minimum age requirement for second borrowers. Joint applicants can now apply with the youngest borrower aged 40 or over, compared to the previous threshold of 45. One borrower must still be aged 50 or above, aligning with LiveMore’s focus on its core 50-90+ target market, while increasing flexibility for joint applications.
Paul Lewis, sales director - mortgages at LiveMore, commented: “We are continuously evolving our offering to better serve the needs of borrowers over 50. Our new Spring Special limited edition rates, latest core rate reductions and eligibility changes all demonstrate our continued commitment to making borrowing easier and more accessible for people in later life.”
