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To fix or not to fix...

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Hi all,

I'm coming to the end of my current 2 year fixed term mortgage which was at 4.49% and am working out my options.

I've been offered another 2 years at the same rate but I've also been offered a 5 year fixed term at 4.59% with a low arrangement fee of £299. Of course I could go onto the variable rate of 3.99% which will bring my monthly costs down each month but, of course, should the interest rates rise over the next 5 years then it could have quite an impact.

I quite like the idea of knowing exactly what I'll be paying each month so am quite tempted to fix for 5 years but I suppose I'm looking for opinions on whether it is a good time to fix for a long time.

Any thoughts appreciated

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