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Product focus: Two year fixed rate mortgages

Product focus: Two year fixed rate mortgages

Category: Mortgages

Updated: 05/01/2011
First Published: 05/01/2011

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 It is now over 6 months old so the content may be out of date.

With the economic climate still fragile, a growing number of people are drawing up monthly budgets to help plan their finances.

Many borrowers looking for a suitable mortgage are choosing fixed rate deals as they offer the reassurance of a fixed monthly repayment, which will remain constant in the event of interest rates rising.

Here is a selection of some of the best two year fixed rate mortgages at present.

Santander

This two year fixed mortgage deal offers:

  • A rate of 2.65% to 2nd March 2013.
  • The maximum loan to value is 60% and there is a maximum advance of £250,000.
  • Borrowers must pay an arrangement fee of £1,995.
  • No incentives are offered, although borrowers have the option to make overpayments of up to 10% of the outstanding balance.

first direct

first direct's two year fixed deal offers:

  • A rate of 2.69%.
  • Customers can borrow up to 65% of the property value.
  • An arrangement fee of £499 is payable, plus a £500 booking fee.
  • Those looking to remortgage can enjoy the incentive of free legal fees, while first, second and remortgage customers have the flexibility to make overpayments.

Yorkshire Building Society

This mortgage deal offers:

  • A rate of 2.79% to 31st January 2013.
  • There is a maximum loan to value of 60% and a minimum advance of £25,001.
  • A £1,300 arrangement fee and £195 booking fee is payable.
  • No incentives are offered, although the deal has a host of flexible features such as the option to make overpayments, underpayments and payment holidays.

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 Any products featured may be withdrawn by their provider or changed at any time.

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