Average two-year rate rises marginally: Moneyfacts

The average two-year fixed rate has continued to rise slightly, according to Moneyfacts.

The rate currently stands at 2.49 per cent.

This time last year, the average two-year fix was nine basis points lower than it is currently.

Within the 65 per cent LTV category, the average rate has risen 0.02 per cent, from 1.90 per cent to 1.92 per cent.

In addition, the average rate within the 50 per cent LTV category has also experienced a rise, from 2.33 per cent to 2.34 per cent.

In contrast, the average rate within the 95 per cent LTV, 90 per cent LTV, 85 per cent LTV, 80 per cent LTV, 75 per cent LTV and 60 per cent LTV categories have all remained unchanged.

Moneyfacts finance expert Rachel Springall comments: “There has been little change on a weekly basis.

“Barclays Mortgages and Virgin Money are among several lenders who have implemented minor adjustments this week.

“Overall, however, there has not been much change – with the average two-year fix very slightly creeping up.”

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