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lenders have launched highly competitive deals, borrowers need to be quick to snap up the best deals as they tend to be withdrawn after a short period of time.
Norwich & Peterborough Building Society
2.24% for 2 years
Penny 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."
See all 2 yr Fixed Rate Mortgages best buys
Penny 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
Penny 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
Penny 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
"As well as having no arrangement fee, this product has a wealth of generous incentives for both purchase and remortgage customers."
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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 Any products featured may be withdrawn by their provider or changed at any time.
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