2-year fixed rate mortgages were the top choice for nearly half of people searching for initial mortgage deals online, research from Moneyfacts found.
Over the 30 days to 28th August 2025, 48.77% of moneyfactscompare.co.uk website visitors who compared mortgage deals were looking at 2-year fixed mortgages.
5-year fixed deals were next, with 27.13% of searches.
Most people looking for mortgages online (92.09%) checked out fixed rates.
First-time buyers (FTBs) made up 4.12% of those looking at 2-year fixes, with 19.11% being second-time buyers and 22.54% remortgage borrowers.
1-year fixed rates were the least popular at 0.70%.
Some 6.31% of borrowers searched for a 10-year fix, even though rates are still higher than a few years ago.
For variable rate mortgages, 2-year deals were also the most popular for initial rates.
FTBs were 0.38%, second-time buyers 0.6% and remortgage borrowers 1.14%.
A moneyfactscompare.co.uk spokesperson said: “It comes as little surprise that many borrowers are interested in a two-year term given the general expectation for rates to continue steadily falling over the short-to-medium term.
“The Moneyfacts average two-year fixed mortgage rate has fallen from 5.2% at the start of 2025 to 4.98% now, recently dipping below 5% for the first time since the aftermath of the so-called mini-Budget in September 2022.
“However, given that inflation is forecast to sit above the Bank of England’s 2% target until at least 2027 and that the cost of Government borrowing has been climbing, there are still plenty of economic challenges on the horizon which may influence mortgage rates and borrower behaviour in the future.”
