Fixing for two or five years is a personal choice. Five year deals now tend to come with a marginally lower interest rate compared with two year deals, and have the advantage of offering security, as well as the knowledge of how much you must pay every month. However, they also attract higher exit fees if you choose to quit your deal early. Two-year fixes are good for those who want short term stability, but want flexibility in case interest rates fall. While rates have stabilised, they remain at their highest since the 2008 financial crisis and are unlikely to fall significantly in the medium term. That means a five-year fixed mortgage may be preferable. If you’re unsure, seek the advice of a mortgage broker or advisor.