Owning your own home

I've thought about interest rates of course but that's anyone's guess how long they'll stay low or whether they'll rise again which they'll have to at some point (won't they?)

15% is crazy but buying a cheaper place I'd be safe in the knowledge that I could afford it, I've worked everything out based on worse case scenario.

If I was to stretch myself now then come the interest rate hike I'd be completely struggling.

Thanks for that page Andyp.

Given the low rate at the moment I think going for a fixed rate makes a lot of sense, as you then know how much you'll be paying each month for the duration of the fixed term. The main drawback of a longer fixed term is that you can suffer penalties should you decide to move during that term.