Guidance on best way forward with remortgage

davegrohl

Hi

Our mortgage is due for renewal.  We had, probably like everyone else been hoping for a dramatic drop in rate but alas here we are and we have left it stupidly last minute

The current amount outstanding is £197k
We have £110k available to offset (merging two homes)
Which would leave us with around £87k

We were thinking of a 2 year fixed so that the market can stabalize a bit. 
Current lender offering 4.8 with £999 fee & probably stay with them as left it until last  minute

We want to eventually bring the term down to as low as possible but is now the right time?

Can someone please give me a steer as to the best way forward;

These are my questions

Is it the right time to add the extra £110k, or should we do less for now
Should we do the max term offered to us as interest rates are currently higher
Should we pay any fee upfront if we are only going 2 year rate

Any quick guidance really would be really appreciated 

Many thanks in advance