Mortgage terms

[Brighteyedtriangle]

What would you do now if remortgaging at a rate of 5.5%.

Would you lock a term of 5 years just incase or risk it at 2 years incase things settle down

I'd probably lock in 5 years depending on the early remortgage fee (in case some miracle happens and the rates have a huge drop!). I think although things will stabilise in a few years I don't think huge drops in interest rates will be coming (obviously all this is personal speculation!) and I'd rather have 5 years of knowing what my repayments are and being prepared for them.