LiveMore launches its first 2-year fixed rate mortgage

LiveMore has expanded its product range to include a 2-year fixed rate mortgage available on its Retirement Interest Only Mortgage as well as its Fixed Term Mortgage, which includes interest-only and repayment options.

This is the first time the lender has launched a short-term fix and rates start from 6.17%.

The new 2-year fix is available on LiveMore’s fee range and fee assisted range, the latter comes with no product fee and a free valuation.

By widening out its product range, LiveMore becomes the only lender in the 50-90+ age space that offers 2, 5, and 10-year fixed rate mortgages, as well as fixed for life.

LiveMore’s unique four tier structure makes it easy for intermediaries to match their clients to the most appropriate mortgage for their clients’ needs. Along with its other products, the 2-year fix is available across all four tiers.

Phil Quinn, head of intermediary sales at LiveMore, commented: “We want to offer all of our borrowers and intermediary partners a wide range of products, which is why we have introduced a short-term fixed rate option. It is available for interest-only and capital & interest mortgages for people aged 50-90+.

“Speaking to intermediaries we work with it became clear that there was demand for a 2-year fixed rate. People are uncertain about the future and some want to see where rates will be in a couple of years before committing to a longer-term fixed interest rate.

“We’re pleased to add 2-year fixed rates to our broad range of products for customers who want to fix with a shorter 2-year ERC period.

“By increasing our range of fixed rate terms, it gives intermediaries more leeway to advise on length of the fix depending on individual circumstances.”