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I went 10, but it was still under 2%. I'm paying an extra £40/month compared to the best possible rate (2 years fixed) I could get, but it wasn't worth gambling to me.
Risk of interest rates going lower than what I was paying: very low
Risk of interest rates going higher than what I'm now fixed at in 2 years time when I've got to fix again: medium - high.
NurseHolliday
If I was mortgaging/remortgaging now I think I'd be looking for a 5 year fixed, but generally over that period I can't see house prices being down by the end of the term and if you choose an area 'on the up' you would expect to still see a decent uplift. Unless we really are seeing the first stages of global economic collapse London property is pretty insulated.