The best UK two-year fixed-rate mortgages 2017
Since the Bank of England slashed its Base Rate to 0.25%, mortgages have been doing rather well.
Here, we'll look at the best of the shortest loan on the market - the two-year fixed rate deal.
Why go for a two-year deal?
Two-year fixed rate mortgages are a good bet if you're looking for manageable monthly repayments that are guaranteed for a short period.
They also tend to offer the most competitive rates compared to longer lasting five- and 10-year options and give you flexibility so you aren't tied down in the future when your plans might take an unexpected turn.
If you're interested in a two-year fixed rate mortgage we've rounded up the best rates to go for right now.
The best two-year fixed rate deals
Here are the best rates on two-year fixed rate mortgages compiled using the loveMONEY mortgage comparison tool for 60%-95% Loan to Value (LTV).
Lender | LTV | Rate | Fee | ERCs |
60% | 0.99% | £1,495 | 2% in first year, then 1% until the end of fixed period. | |
65% | 1.17% | £1,695 | 2% in first year, then 1% until the end of fixed period. | |
HSBC | 70% | 1.14% | £749 | 2% in first year, then 1% until the end of fixed period. |
Yorkshire Building Society | 75% | 1.24% | £1,495 | 2% in first year, then 1% until the end of fixed period. |
80% | 1.29% | £995 | 2% in first year, then 1% until the end of fixed period. | |
85% | 1.44% | £1,450 | 3% in first year, then 2% until the end of fixed period. | |
Monmouthshire Building Society | 90% | 1.65% | £995 | 3% until the end of fixed period. |
The Nottingham Building Society | 95% | 2.99% | £999 | 2% in first year, then 1% until the end of fixed period |
As you can see the rates on the top deals tend to command a hefty fee. So we've also picked out the best rates on two-years deals with a fee of under £500.
Lender | LTV | Rate | Fee | ERCs |
Halifax | 60% | 1.39% | £295 | 3% in first year, then 2% until the end of fixed period. |
Norwich & Peterborough Building Society | 65% | 1.44% | £195 | 2% in first year, then 1% until the end of fixed period. |
Accord Mortgages | 70% | 1.47% | £495 | 2% in first year, then 1% until the end of fixed period. |
Accord Mortgages | 75% | 1.47% | £495 | 2% in first year, then 1% until the end of fixed period. |
Accord Mortgages | 80% | 1.56% | £495 | 2% in first year, then 1% until the end of fixed period. |
85% | 1.77% | £495 | 3% in first year, then 2% until the end of fixed period. | |
90% | 2.19% | £0 | 2% until the end of fixed period. | |
Monmouthshire Building Society | 95% | 3.25% | £0 | 3% until the end of fixed period. |
Other options
A shorter fix will give you some peace of mind and a competitive rate.
However, the downside is that you will need to remortgage more often than with longer lasting deals, which means paying the associated costs and doing the paperwork again.
