We propose a novel two-timeslot two-way full-duplex (FD) relaying scheme, in which the access link and the backhaul link are divided in the time domain, and we study the average end-to-end rate and the outage performance. According to the user equipment (UE) capability and services, we investigate two scenarios: three-node I-and four-node Y -relaying channels. Among various relaying protocols, the well-known amplify-andforward (AF) and decode-and-forward (DF), are considered. Closed-form expressions for the average end-to-end rate and the outage probability, under the effect of residual self-interference and inter-user interference, are presented. The results show that the proposed two-timeslot two-way FD relaying scheme can achieve higher rate and better outage performance than the halfduplex one, when residual self-interference is below a certain level. Therefore, this relaying scheme presents a reasonable tradeoff between performance and complexity, and so, it could be efficiently used in fifth-generation (5G) wireless networks.