LiveMore comment on the BoE base rate cut to 4.75%

07 November 2024

Please find below, comment on the BoE base rate announcement from Simon Webb at LiveMore, the mortgage lender for the 50-90+ age group.

Simon Webb, managing director of capital markets and finance at LiveMore, commented:

"The Bank of England’s decision to reduce the Bank rate to 4.75%, offers encouraging news for older borrowers. For those over 50, who often face unique financial considerations, this rate cut could ease monthly repayments.”

“Combined with measures from last week’s Budget, such as a 4.1% increase in the state pension from April 2025, today’s decision can enhance financial stability for the older generations and help with affordability and choice in the mortgage market.“

“Tools like LiveMore’s Mortgage Matcher® can help intermediaries navigate the over-50s market more effectively, ensuring they find solutions that suit their clients' specific circumstances in these changing times.”