The rates on fixed mortgages are slowly creeping up, so it's a good idea to lock your rate in now.
Two-year fixed rate deals 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. However, if you want to look at longer-term mortgage, take a look at our mega round up of the best fixed-rate mortgages.
The best two-year fixed rate deals
Here are the best rates on two-year fixed rate mortgages from 60%-95% Loan to Value (LTV).
|
Lender |
LTV |
Rate |
Fee |
ERCs |
|
60% |
1.19% |
£745 |
2% in first year, then 1% until the end of fixed period. |
|
|
65% |
1.20% |
£1,395 |
2% in the first year, then 1.5% until the end of the fixed period. |
|
|
70% |
1.24% |
£1,495 |
2% in first year, then 1% until the end of fixed period. |
|
|
75% |
1.24% |
£1,495 |
2% in first year, then 1% until the end of fixed period. |
|
|
80% |
1.35% |
£1,149 |
3% until the end of fixed period. |
|
|
85% |
1.44% |
£999 |
2% in first year, then 1% until the end of fixed period. |
|
|
90% |
1.82% |
£995 |
2% in first year, then 1% until the end of fixed period. |
|
|
95% |
3.29% |
£995 |
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 |
|
60% |
1.24% |
£495 |
2% in first year, then 1% until the end of fixed period. |
|
|
65% |
1.24% |
£495 |
2% in first year, then 1% until the end of fixed period. |
|
|
70% |
1.54% |
£495 |
2% in first year, then 1% until the end of fixed period. |
|
|
75% |
1.54% |
£495 |
2% in first year, then 1% until the end of fixed period. |
|
|
80% |
1.58% |
£495 |
2% in first year, then 1% until the end of fixed period. |
|
|
85% |
1.64% |
£299 |
2% in first year, then 1% until the end of fixed period. |
|
|
90% |
2.09% |
£399 |
3% until the end of fixed period. |
|
|
Hanley Economic Building Society |
95% |
3.49% |
£250 |
3% until the end of fixed period. |
Looking to buy a home or simply remortgage? Visit our comparison centre
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.
If you’ve come to the end of your deal take a look at our how to remortgage guide.
For longer lasting deals, head over to the best five-year fixed rate mortgages and the best 10-year fixed rate mortgages.
Alternatively, if you don’t mind a bit of uncertainty take a look at the best tracker mortgage rates to see if these deals are more suited to your needs.