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NotThamesWater
the 5 years makes me feel more comfortable but wary of making the "wrong" decision and being stuck for 5 years.
It would already be £300 cheaper than what I'm paying now, plus my student loan will be cleared by the end of this year so I would almost immediately have an extra £600 every month to put into savings if I wanted to.
I get the benefits of an offset, and chances are I would be saving something. But if our circumstances change and we have to use those savings, we'd be stuck with a "risky" mortgage and none of the offsettyness to combat the riskyness.