Mortgage renewal, whats your thoughts?

[Taipan]

My Sons 2 year fixed rate mortgage expires at the end of May and he's asked me for my thoughts on his renewal. Given the state of the world at the moment, I'm thinking tie it down for another 2 years? What do you more knowledgeable types think?
TIA

[Silly Car]

Current fixed rate deals are higher than they should be due to situation in Middle East. I’d most likely be looking at a short term fix, probably with the current lender (no valuation fees / legal costs etc), but be prepared to be nimble and seek out a better deal by switching product / provider should rates come down in the short term / before any new deal starts etc.

Given the highly anticipated inflation rate increases heading our way, I’d be surprised if mortgage fixed rates actually come down swiftly / at all for a while. Corporately, we aren’t expecting any BOE rate cuts for the remainder of 2026.

[Zimbo]

We have just fixed ours, usually do 5 years but this time we are fixing for 2. Arranged it a month ago at 3.93%, same deal is now 5.21% so I'm very pleased I did it when I did!

[gremlin]

Wait until this current goonery quiets down and then see what's out there. Lenders are like tortoises: retreat into their shells at the slightest noise and slowly emerge.
Rates are already coming down so be patient.