To secure any of these two-year mortgage deals, homeowners are being advised to move fast – as brokers believe the current rates are unlikely to be available for long. Leeds Building Society says it has a “strictly limited tranche” of funding for its 1.99 per cent fixed rate, which could see the deal withdrawn within a week.

Two-year fixed-rate mortgages have become a more attractive option for many homeowners following the launch of the first-ever fixed below 2 percent this week, a move that brings the cost of fixing a loan on par with the cheapest two-year tracker deals.

Leeds Building Society is now offering a two-year fixed rate of 1.99 per cent, with a fee of £1,999, available to homeowners looking to borrow up to 75 per cent of a property’s value.

Syndicate content