If someone is 'loveable' it means that it is easy to love them. It's usually used for people and animals, but not in a romantic sense. It's similar to 'adorable'. It's also often used for people whom you wouldn't expect to be loveable. For example, a cliche character in a film is the 'loveable rogue', a person who does bad or illegal things but who is nonetheless very likeable. 'Lovely' is an all-purpose adjective meaning beautiful or perfect. A person can be lovely. A kind act can be lovely. A heart-warming story can be lovely. A delicious ice-cream can be lovely. A warm bath at the end of a tiring day is definitely lovely.

Lovely is often used as a synonym for beautiful, or pretty. loveable is for something warm and cuddly- something that makes us want to love it - like kittens on Youtube. So we might say a young woman is lovely and a puppy is loveable.

A flower can be lovely, but not loveable a dog would be loveable rather than lovely Lovely tends to refer to objects Loveable tends to to people or animals (Or maybe a Teddy Bear:))

The above answers all more than sufficient , i will only give more examples to make the difference clear. "lovely' is more picturesque , referring to features, looks ,predominantly used to describe women in the sense of beautiful ,attractive , pretty ,good-looking , in fact anybody or anything pleasing and easy on the eye could be described as lovely . In cases you could refer to food as lovely in the sense of delicious and tasty .Any pleasant sight ,enjoyable and comfortable one could be also called 'lovely' . "Loveable" refers more to the pleasant , warm and adorable characteristics of a living thing rather than an object, creatures inspiring or deserving love and affection .It ranges from finding it cute ,sweet or charming to being totally engaged or bewitched by its charm .

Thinking again, seems obvious, but; Loveable is something you are 'able to love'. Lovely is an adjective :)