Should I fix mortgage at 4.5%

[HangOnToYourself]

Sorry I know it's not an aibu but I've been talking to my mortgage broker and not sure what to do, I'm currently on a variable rat at 4.99 so obviously this may go up. The broker has said they have an AIP at 4.5 % but I'm conscious that is still high and I'm scared to fix at that rate but I dont really have much context and not sure what to do. Is that a stupid rate to fix at?

I fixed 5 years at 4.59 yesterday. Not great but not terrible

Yeah made me feel sick at the thought, wish we’d of fixed for 5 years at the lower rate 2 years ago instead x

To give you context my colleague is remortgaging and the cheapest rate he can get is 5.9% for a 10 year fix, more for less years.

Sounds good to me! We just paid over 1K early repayment charge today to fix a portion of our mortgage at 4.64% for 5 years… we worked out that even if we waited a few months for the ERC to end, if rates go up by even 0.5% we’d be worse off over 5 years! And we have 50% LTV to get that rate… so I’d say 4.5% for 5 years is good!!!

If you can afford it, fix, at least you won’t be continually worried.