2 Year Fixed Rate Mortgages

How To Get A 2 Year Fixed Rate Mortgage

With uncertainty over interest rates, many people are opting for a 2-year fixed-rate mortgage.

The good news is that 2 year rates are currently very competitive. 

• Certainty—By locking into a 2-year fixed rate, you can be sure that your monthly repayments will not change.

• Low rates - 2 year fixed rates are as low now as they have been for a very long time. 

• Interest-only options - Some lenders are offering 2-year fixed terms on an interest-only or part-and-part basis. This type of arranagement is offered by some lenders if the loan to value (LTV) is lower than a set percentage of the value of the property you are mortgaging.This is typically 75% LTV or less. There are a few lenders that will go up to 85% LTV but you will need to speak to our independent mortgage team to access these rates. Some lenders will require a part interest and part capital repayment strategy for any borrowing over a set limit e.g. 60%. So if you have a 25% equity in your property, a lender may require that 15% of borrowing is on a part and part basis with 60% fully on an interest only basis.