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Product focus: Two year fixed rate mortgages

Product focus: Two year fixed rate mortgages

Category: Mortgages

Updated: 02/02/2011
First Published: 02/02/2011

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

In the last few weeks the cost to the banks to raise funding for mortgage lending has risen and this cost is being passed on to borrowers through higher mortgage rates.

Nearly all mortgage lenders have increased their fixed rates, so borrowers looking for a new deal need to act fast.

Below are a selection of competitive two year fixed rate deals.

Santander

  • If borrowers have a 40% deposit then the best rate on the market is being offered by Santander.
  • The lender is charging 2.65% fixed until 2 April 2013, subject to a £1,995 fee.
  • The mortgage is available direct from the lender, with a maximum mortgage advance of £250,000.

Leeds Building Society

  • Borrowers with a 25% deposit could consider the two year fixed rate deal from Leeds Building Society at 2.99% until 31 March 2013.
  • The deal is subject to a £999 and borrowers must take out buildings and contents insurance with the lender in order to qualify.

Norwich & Peterborough Building Society

  • Norwich & Peterborough Building Society is offering borrowers with a 15% deposit a rate of 3.89% fixed for two years.
  • The deal is available to customers borrowing a minimum of £20,000 and is subject to a £995 fee.

Newcastle Building Society

  • The lowest rate on the market for those with just a 10% deposit is from Newcastle Building Society.
  • The lender is charging 5.15% fixed until 31 March 2013. The deal is subject to a £199 reservation fee and a £699 completion fee.
  • The deal is available to first and second time buyers, but not remortgagers.

Find the best mortgage rate - Compare best selling mortgages


Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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