Owning your own home

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.

This is what I'm doing for my first mortgage. I just figured it would be easier to know what was outgoing every month as it's my first time doing all this.