Rates are the same as the current RIO and standard mortgage products.

The roles span the breadth of broker enquiry, case management, servicing and technical teams.

The £215 million deal will help fund flexible mortgages for older homeowners.

Standard mortgage rates now start from 5.48%.

James previously spent more than a decade at Lloyds Banking Group.

The maximum LTV available on its range is now 51%.

The product combines elements of both interest-only and capital and interest.

LiveMore has also reduced rates on its equity release range by up to 65 basis points.

Sturla has held senior positions across lending and risk at businesses such as Lloyds Bank and Coutts.

The lender has reduced rates across all standard and RIO LiveMore 1 to LiveMore 4 products by up to 0.59%.