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2 Year Fixed Rate Mortgages

With 2 year fixed rate mortgages, your rate is fixed for a 2 year period, which means it is unaffected by any changes in the base rate. 2 year fixed rate mortgages are available from most mortgage lenders and can really benefit people who want to know what their payments will be each month. Advantages of 2 year fixed rate mortgages include:

Easy budgeting - Your payments won't change over the two year period
Potential to Save Money - If rates go up, your agreed rate is unaffected which could save you hundreds of pounds

Disadvantages of 2 year fixed rate mortgages are that if the rate goes down, you will not benefit, and when the deal comes to an end, it can be expensive to set up another, plus, if you don't, you automatically go onto your lenders' variable rate, which could add a considerable amount to your monthly repayment.

But if you are happy with the rate you are offered, and are keen to have a deal where you know where you are each month, a 2 year fixed rate mortgage could be right for you; see the table below for the latest deals.

Initial Rate	Type	Period To	Provider	The Overall Cost For Comparison APR	LTV
3.49%	Fixed	Mar 2011	Alliance & Leicester	5.00%	60%	More
3.89%	Fixed	Apr 2011	Lloyds TSB Scotland	4.00%	75%	More
3.89%	Fixed	Apr 2011	Cheltenham & Gloucester	5.00%	75%	More
3.99%	Fixed	Jan 2010	Woolwich (Barclays)	4.00%	60%	More
4.19%	Fixed	Jan 2010	Northern Rock	6.00%	65%	More
4.19%	Fixed	Feb 2010	Marsden	6.00%	65%	More
4.29%	Fixed	Mar 2011	Progressive Building Society	5.00%	60%	More