LiveMore comments on interest rate decision

07 August 2025

Leon Diamond, CEO at LiveMore, comments:

“The Bank of England’s decision to reduce the base rate to 4% reflects the delicate balancing act between curbing inflation and supporting a slowing economy. While inflation remains above target, signs of a weakening labour market and falling consumer confidence have clearly tipped the scales toward easing monetary policy.

“This is a welcome move for many older borrowers. Lower rates can reduce monthly repayments or improve affordability assessments. For customers reliant on fixed incomes or navigating retirement planning, even modest reductions in borrowing costs can make a real difference.

“That said, it’s important to remember that rate cuts alone won’t unlock financial resilience for the over-50s. We need a more flexible lending environment that recognises the diversity and complexity of later life finances. This includes smarter regulation, innovation in product design, and a shift in the industry mindset about what older borrowers can and should be able to do.

“At LiveMore, we’re committed to supporting this demographic with solutions that go beyond traditional criteria. Today’s announcement reinforces the importance of lenders adapting quickly to macroeconomic shifts and delivering options that work for customers, whatever life stage they’re at.”