LiveMore launches first two-year fixed rate mortgage

LiveMore has expanded its product range to include a two-year fixed rate 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 two-year fix is available on both the fee range and LiveMore's fee assisted range which comes with no product fee and a free valuation.

Along with its other products, the two-year fix is available across all four of LiveMore's lending 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 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.”