The average two-year fixed rate has risen slightly following a two-basis point drop recorded last week, according to Moneyfacts.
The rate currently stands at 2.47 per cent, which is five-basis points higher than this time last year when the average two-year fixed rate was 2.42 per cent.
Moneyfacts says that the rates in all the higher LTV categories have been reduced, while the rates in the all lower LTVs have experienced small increases.
The 95 per cent LTV category has seen its average rate reduced from 3.30 per cent to 3.29 per cent, the 90 per cent LTV category has fallen from 2.65 per cent to 2.63 per cent, the 85 per cent LTV category from 2.47 per cent to 2.46 per cent, and the 80 per cent LTV category from 2.45 per cent to 2.44 per cent.
Meanwhile, the 75 per cent LTV category has risen from 2.33 per cent to 2.34 per cent, the 70 per cent LTV category has increased from 2.49 per cent to 2.52 per cent, the 65 per cent LTV category from 1.97 per cent to 2.03 per cent, and the 60 per cent LTV from 1.88 per cent to 1.91 per cent.
Moneyfacts finance expert Darren Cook comments: “There is a clear line between the low and high LTV categories.
“The competition is in the higher LTVs which is why they have continued to be marginally cut, while the lower LTV categories have been increased to balance it out.
“The continued small lending adjustments are in relation to the current economic uncertainty.”