LiveMore has launched a new 3+2-year fixed rate mortgage designed for borrowers aged 50 to 90+, providing greater flexibility for customers seeking both stability and the option to reassess their mortgage terms sooner. The product will be available from 9:00am today (Wednesday 7th May).
The new fixed rate offers the security of a five-year term, but with early repayment charges (ERCs) applying only in the first three years. The ERCs reduce on a sliding scale – 5% in year one, 4% in year two, and 3% in year three – with no penalties applying in years four and five. Initial rates start at 5.58%.
Paul Lewis, sales director of mortgages at LiveMore, said: “This product gives borrowers the confidence of a longer-term fix, with the flexibility to reassess their situation after just three years. It’s ideal for customers who want stability now but don’t want to be locked in if market conditions improve.”
Alongside the new launch, LiveMore has also reduced rates on its Equity Release range by up to 65 basis points at higher LTV tiers, supporting customers who want to release more equity from their homes.
All new products are available via the LiveMore Mortgage Matcher®, a free broker tool designed to help match clients to suitable options based on their financial circumstances.
