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It depends how badly the market sinks in the interim.
I'm at 69% LTV at the moment on an 18y mortgage for $483k remaining. At the moment the deal would be so-so... but if the market really truly crashes I should still avoid neg equity but the risk is that LTV would be moved back into the higher interest rate bucket (> 80% LTV).
I can probably argue the home improvements, and can throw my savings on the mortgage... but both will only slightly buffer the impact.
More likely, things will stabilise when this gov stop fucking around and when this Winter has passed and the impact of the Ukraine war is more known... hence, I'll probably choose to ride the variable for 6 months before fixing again. There's way too much risk priced into the current rates.
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Velocio
Mine is November next year. Can you increase you LTV to the next bracket given the uplift in value of the place from the work you have done (kitchen) and market appreciation? That's my plan to help ease the spike