Mortgage rates: to fix or not to fix?

A friend is coming off fixed rate (was 4.8%).
BOI have offered:
variable 2.7%
2 year fix 3.15%
3 year fix 3.6%
5 year fix 4.25%
Thoughts? Comments?

Loads of posts on this already if you do a search.

My advice is to only fix if future rate increases will overstretch you, do not fix to try and time the market.

Your friend could always fix a % of the mortgage and put the rest on a variable rate thus getting the advantages of both.


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Split it between variable and the two/three year rate. Please ask them to check that they are not foregoing a tracker rate. A quick call to ICS will confirm this.ICS will also allow you to pay fortnightly thus reducing your overall interest repayable.