When it comes to mortgages, two-year fixes have historically been the most popular product in the fixed-rate stable as they are cheaper than longer deals – meaning lower monthly mortgage payment,
Ishaan Malhi from online mortgage broker, Trussle, added: “The cost of borrowing is expected to rise as certain bank subsidies fade away and interest rates climb."In such an environment, locking in to a competitive five-year fixed deal will keep your repayments stable in the next few years while the country comes to terms with an increasingly uncertain economic future.”
Mark Harris from broker, SPF Private Clients, said: “Two-year deals also appeal as they give certainty for a period of time without locking the borrower into hefty early repayment charges for too long.” Given you may have assumed that plumping for a two-year deal was the answer, it may come as something of a surprise to discover that a deal of this length may not be the best option right now.
https://www.mirror.co.uk/money/getting-2-year-mortgage-now-12030862
