2 year fixed or 5 year fixed?

[ilovewinterpansies]

Not sure whether money or property is the best place to post this - am starting here!!

Thoughts on whether you'd chose a 2 or 5 year fixed?

I chose a 5 year fixed in 2011 and it cost me dear as interest rates kept dropping despite the predictions. Obviously at the moment, everything thinks rates will rise (they won't fall). But will they rise enough to make it worth the price of a longer term fixed product?

We have enough wriggle room to absorb interest rate rises comfortably I'd say. I'm tempted to go with a 2 year fixed....on the mortgage we are getting, the cost benefit is £200 a month.

Thoughts?

I fixed at 2.04 for 5 years

You also need to take into account any fee(s) associated with each deal & look at the total payments over the whole term

5 years fixed, 1.79% 58% LTV
£995 product fee with Natwest

Carney is determined that low interest rates are essential for a healthy economy. is he right after a decade of it?

I fixed an offset at 1.99% for 5 years, 40% LTV.

Is Carney leaving in June next year? Just in time to avoid the mess of brexit I see...and a good chance rates will go up after his exit

We've just applied for a 5 year fixed and our broker agreed it was the best option. It was only very slightly more than the 2 year fixed and as interest rates are so low they are likely to go up not down. It's 1.99% interest on a 5 year.

Same dilemma, I went for a 10 year fixed at 2.59% and am overpaying to ensure the mortgage will be paid off within that timescale.

I don't see how interest rates can remain as low as they have and all the unknowns around Brexit just add to the mix, so I felt more comfortable having some certainty around my repayments plus control over when I repay the mortgage.

The risk isn't even that interest rates will rise massively in 4 years. There is a real risk that values will have dropped enough for those on 2 or even 5 year fixed rate mortgages to be in negative equity and unable to secure a new agreement, after their term has expired, leaving them on whatever the screen us at the time.

Svr is

That's scary.
I wish I knew more about all this - is there an idiots guide somewhere? I just prefer fixed deals so I know what my outgoings are...

We fixed for two years last summer as that will see us through to men returning to full time work. Currently on 1.39% at 78% LTV. We are massively overpaying thouggnto bring the term down

1.9% for 5 years with virgin last summer. 2 years will race by and I couldn't be doing with brokers again. We went for 25 years when we could have had 30 on the basis that after 5 years if rates shoot up we could get cheaper on 25 years when we remortgage rather than 20, although I'd like to reduce the term if possible.

G1ggleloop where did you get that deal if you don't mind me asking?