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Top 5 cracking two-year fixed rate mortgages

Top 5 cracking two-year fixed rate mortgages

Category: Mortgages

Updated: 13/03/2013
First Published: 13/03/2013

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 It is now over 6 months old so the content may be out of date.

Fixed mortgage rates have been in free-fall over recent weeks, with the average two-year fixed rate standing at 3.88%, down from 4.54% in March 2012.

Whilst a large number of lenders have launched highly competitive deals, borrowers need to be quick to snap up the best deals as they tend to be withdrawn after a short period of time.

Here are the current top 5 two-year fixed rate mortgage deals:


Norwich
& Peterborough Building Society

2.24% for 2 years

  • Maximum loan-to-value 60%
  • £295 reservation fee
  • Minimum advance £25,001
  • Incentives of free valuation fees for all borrowers, £200 rebate for purchase borrowers and free legal fees for remortgage customers
  • Flexible features of overpayments, underpayments and payment holidays

Penny saysPenny says…
"Sitting at the top of the two-year fixed market is this great all-round deal from N&P.

"Offering the combination of a market-leading rate, low arrangement fee and generous incentive package, this deal also has a wealth of flexible repayment features."


Leek United Building Society
2.29% to 30.6.15
  • Maximum loan-to-value 75%
  • £100 booking fee and £895 completion fee
  • Advances between £30,000 and £500,000
  • Incentives for all borrowers of £250 rebate and refunded valuation on properties valued up to £500,000
  • Overpayments can be made up to 10% of the advance

See all 2 yr Fixed Rate Mortgages best buys

Penny saysPenny says…
"This highly competitive deal from Leek United BS should appeal to borrowers with deposits of 25% and over.

"A host of attractive incentives should also prove popular with borrowers looking to keep initial costs down."



Market
Harborough Building Society

2.75% to 31.3.15


  • Maximum loan-to-value 80%
  • £595 arrangement fee
  • Purchase and remortgage borrowing between £50,000 and £350,000
  • Incentives of refunded valuation fees, up to £300 and refunded accident, sickness and unemployment cover for 3 months
  • Option to make overpayments, underpayments and take payment holidays

See all 2 yr Fixed Rate Mortgages best buys

Penny saysPenny says…
"This direct mortgage offers a low rate and fee, of which £95 must be paid upfront, as well as refunded ASU for three months.

"Flexible features of overpayments of up to 10% of the outstanding balance, underpayments and the opportunity to take payment holidays are also offered."



The Co-operative Bank

3.59% to 30.4.15
  • Maximum loan-to-value 85%
  • £999 arrangement fee
  • Minimum borrowing of £25,000
  • Incentives of free valuation admin fees for purchase borrowers and free valuation and legal fees for remortgage borrowers
  • Flexible features of overpayments, underpayments and payment holidays

See all 2 yr Fixed Rate Mortgages best buys

Penny saysPenny says…
"The Co-op's top paying two-year fixed mortgage offers a top rate to borrowers with deposits of 15% and over.

"A fee below £1,000, of which £150 must be paid upfront, incentives and flexible features help boost this product's overall appeal."



Newcastle
Building Society

5.99% to 31.3.15
  • Maximum loan-to-value 95%
  • No arrangement fee
  • Purchase and remortgage borrowing between £10,000 and £350,000
  • Incentives of free valuation fees for properties valued up to £500,000 and £300 rebate for purchase borrowers. Free legal fees are offered to remortgage borrowers in England and Wales and £300 rebate for those remortgaging in Scotland and Northern Ireland

See all 2 yr Fixed Rate Mortgages best buys

Penny says
Penny says…

"This deal should prove popular with borrowers with small deposits who are looking for a competitive fixed-rate mortgage.

"As well as having no arrangement fee, this product has a wealth of generous incentives for both purchase and remortgage customers."


What next?

Compare the best 2 year fixed rate mortgages
How much can I borrow calculator

What is a fixed rate mortgage?

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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