Six Of The Best Two Year Fixed Rate Mortgages | moneyfacts.co.uk

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Derin Clark

Derin Clark

Online Reporter
Published: 27/05/2020

As the housing market starts moving again, mortgage borrowers will be pleased to see that lenders have also started re-introducing deals, especially within the higher loan-to-value market. This means that for consumers who have been putting on hold buying a new property or taking out a new mortgage, now could be the ideal time to start looking into fixing into a two year mortgage deal.

Here, our team of mortgage experts have evaluated the mortgage market, taking into account a range of factors including rate, product fees and incentives, to highlight six of the best two year fixed rate deals currently available on the market.

Best two year fixed rate mortgages

The best two year fixed rate mortgage at the moment comes from Wes Brom Building Society which offers 1.24% (3.5% APRC) fixed until 30 September 2022, which then reverts to 3.99%. This deal is available to those with a maximum 60% LTV. It charges £999 in product fees and comes with the incentives of free valuations to a maximum of £740 and £500 cashback.

HSBC also offers a rate of 1.24% (3.2% APRC) which is fixed until 30 September 2022, after which it reverts to 3.54%. This deal is available to those looking to borrow a maximum 75% loan-to-value (LTV). It charges £999 in product fees and comes with the incentive of free valuations. It should be noted that if this deal is applied for as a joint mortgage a £15,000 joint minimum earned income is needed.

Also offering a highly attractive deal on a 75% LTV is NatWest which offers 1.25% (3.2% APRC) fixed until 30 September 2022. This deal charges £995 in product fees and comes with the incentive of £250 cashback.

For those looking for a higher LTV of 80%, West Brom Building Society offers 1.54% (3.6% APRC) fixed until 30 September 2022, which then reverts to 3.99%. This deal charges £999 in product fees. It comes with the incentives of free valuations to a maximum of £740 and £500 cashback.

For borrowers looking for an 85% LTV, Santander offers 1.64% (3.1% APRC) fixed until 2 September 2022, reverting to 3.35% thereafter. This deal requires an earned minimum income of £10,000. It charges £649 in product fees and comes with the incentives of free valuations to a maximum of £1,190 for properties valued to a maximum of £2.5m and £250 cashback.

Rounding off the top six is a deal from HSBC which offers 2.04% (3.3% APRC) fixed until 30 September 2022, which then reverts to 3.54%. This deal is available to those looking for a 90% LTV and, if being applied for as a joint mortgage, requires a joint minimum earned income of £15,000. It does not charge any product fees and comes with the incentive of free valuations.

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