2 Year Fixed Rate Mortgages
Fix your interest rate and your monthly payments won't change for 2 years.
Your home may be repossessed if you do not keep up repayments on your mortgage.
What is a 2 year fixed rate mortgage?
A 2 year fixed rate mortgage means your interest rate stays the same for 2 years. Even if the Bank of England base rate changes, your monthly payments won't.
What happens when a fixed rate deal ends?
When your fixed rate ends, you can choose another mortgage deal or move onto our standard variable rate. You can find details about what happens after your fixed rate deal ends in your mortgage illustration.
Things to consider
The benefits of a 2 year fixed rate mortgage
Lock in an interest rate for 2 years, no matter what happens to the Bank of England base rate or the YBS standard variable rate.
Planning your budget - with a fixed mortgage payment for 2 years, you’ll know exactly what you will pay each month.
Flexibility - you can remortgage or get a new deal sooner than if you take a longer term fixed rate.
Why a 2 year fixed rate mortgage may not be right for you
Early repayment charges - if you choose to change mortgage or pay off your mortgage in the fixed rate period.
Your rate is protected for a shorter term - so if rates rise, it will affect you sooner.
Changing deal more often - which could mean more product fees to pay and more credit checks on your account.
Next steps to finding your mortgage
Find out how much you could borrow
Answer a few questions about your household income and spending, to find out how much we might lend you.
Takes about 2 minutes to complete.
Find a mortgage rate
Use our mortgage rate finder if you are:
Buying your first home
Moving home
Moving your mortgage to YBS (remortgaging).
Get a Decision in Principle
Instant decision
Valid for 90 days
Does not affect your credit score
Takes as little as 10 minutes.
You can find out if you meet our lending criteria before you apply for a Decision in Principle.
Get in touch
Chat to our mortgage specialists about your options, or book an appointment and we'll call you back.
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