2 Or 5 Year Fixed Term Mortgage?

[patelfreman]

My current fixed term is about to finish and I have the option of choosing a 2 or 5 year fixed term mortgage (2.99 or 3.99% respectivley) however i cannot seem to find any 'expert' guidance on which in the current climate is the best length of time take out a fixed term for. Any pointers would be apprecited,

Thanks...

[CheekyChops]

Well I am certainly no expert but can't see rates getting much lower so personally, I would go for the 5 year.

Unfortunately I fixed mine in September - just before the rates fell - at over 5% :-(

[factor-fiction]

I'm inclined to agree with cheekychops based on historical rates but of course no-one knows. The banks will have factored in the views of experts when they set the rates but as we know the experts can get it badly wrong sometimes..