The new two-year fix is available on the fee range and fee-assisted range
Later life lender LiveMore has expanded its product range by launching a two-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.
LiveMore, which has launched a short-term fix for the first time, has also become the first lender in the 50- to 90-plus age space that offers two-, five-, and 10-year fixed rate mortgages, as well as fixed for life.
The new two-year fix, with rates from 6.17%, is available on LiveMore’s fee range and fee-assisted range, with the latter offering a free valuation and no product fee. The product is available across all four tiers, a structure which LiveMore employs to makes it easy for intermediaries to match their clients to the most appropriate mortgage.
“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,” Phil Quinn (pictured), head of intermediary sales at LiveMore, commented. “It is available for interest-only and capital and interest mortgages for people aged 50 to 90-plus.
“Speaking to intermediaries we work with, it became clear that there was demand for a two-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 two-year fixed rates to our broad range of products for customers who want to fix with a shorter two-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.”
Want to be regularly updated with mortgage news and features? Get exclusive interviews, breaking news, and industry events in your inbox – subscribe to our FREE daily newsletter.
