2 year fixed v 5 year fixed rate mortgage in 2022

ALacoste

I am a first time buyer, have offered on a house and has been accepted. Working with my broker to find the best deal. Rates are high into the 3.41%. Do I opt for a 2 year fixed or 5 year fixed? Given the current climate of base rate increasing in 2022 and well into 2023. Do you think by 2024 it will stabilise? What would you recommend and why?

Maka344

5 Years at the moment without a doubt. This secures your payments for 5 years and we know the rates will probably keep increasing in the coming months. 

PK_London

5yr fixed all the way