Mortgage rates and length

[FluidDruid]

Have been offered rate of 4.19% for 2 year fix and 4.25% for 5 year fix.

Are these decent rates and does it make more sense to choose a fix that would get us to the point where we have 60% LTV and could get lower rates?

I would go for the 2 year. Shop around to see if you can get a better rate but I would still go for 2 years. With all the economic uncertainty (trump) rates are most likely to go down so you'll get a better deal in 2 years then maybe fix for longer.

Have shopped around and others are offering 4.44 at best, including initial chat with a broker.

5 years does seem a long time at the moment.

Are there any fees on either of those? How big is your mortgage?

If the mortgage is small, a fee can bump up the cost considerably, especially for 2 years vs 5.

We've gone for a 5 year. There isn't really alot of difference, between the two and with everything being so up and down I'd rather take the certainty of a fixed rate for an additional 3 years. Our council tax bill landed and that's 5% increase! That will only rise and rise so I know I have control on the mortgage at the very least!

We've fixed with no fee as well, as the other poster says, it wasn't worth us paying a fee and our mortgage is still £150k+. So do check that out.

What I'd do (and I appreciate you may feel differently) is to go for a 5 year fix and consider overpaying as much as I could to reduce total interest paid. Some mortgages allow unlimited overpayment, even on their fixed products.

The base rate has returned to historic norms rather than this being a blip of high interest rate.

If the stock market tanks or we're at war within 3-5 years, you may be relieved to have certainty with what you're replying.

*repaying

I've gone for 5 year. I was lucky enough to get a 4.04 fix in September that kicked in this week.

I had assumed they would go down by now and I would change to a new rate but they went back up again (albeit only by a small amount)

I am single parent so sole breadwinner and want the security - especially as my oldest starts uni this year and I have those costs.

We've just got a 4.19% fixed 5 year. There wasn't much difference between the 2 and 5 year payment wise. When we were looking last year, the lowest rate was around 5% so we're happy with 4.19%.
But then again we are FTB and don't really know what we're doing! Time will tell...

I have been offered 4.19% for five years. I will remortgage in April.

The broker said though that we could negotiate down if there is another rate cut happens before my new deal kicks in.

@Cattreesea interesting. We are organising direct - do lenders also offer down or negotiate down by people who aren't using brokers?

I am not sure. I have always used a broker for my mortgages so I have no experience of liaising directly with the lender.