2 or 5 Year Fix

[UncomfortableSilence]

Never really considered 5 year fix for some reason but is it something we should be doing.

No plans to move been offered 1.59 on a 2 year and 1.89 on a 5 year with a difference in £60 a month on repayments

Slightly concerned about the hefty penalties 'should' something happen.

Rates I guess won't be going down much more so maybe a good plan?

At this point I would 5 year fix, gets you through all the Brexit uncertainty etc

That's a good deal.

Unless there's a possibility of you being able to pay off the mortgage in the near future, I'd go for a five year fix at the moment.

Thanks all, we will be paying it off early but not in the next 5 years so I think we'll go for the 5.

How much are the setup fees on each ?

£995

Blimey.
How much would a tracker be ?
bearing in mind that UK interest rates will not be going above 2% for many years ....