LiveMore has expanded its product range to include a two-year fixed rate mortgage available on its Retirement Interest Only (RIO) 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.
LiveMore claims it is the only lender in the 50-90+ age space that offers two, five, and 10-year fixed rate mortgages, as well as fixed for life.
Phil Quinn, head of intermediary sales at LiveMore, said: “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.”