Without wishing to be too flippant I think the choice to fix rates is either:
A. Because the rate offered is as low as it is likely to get eg say April 2009 when from memory 4.89 or 4.99 was available 3 year fixed; or
B. If you could not afford variable if they went up say 3 per cent
Otherwise if you're in for the long haul I think the research shows variable is slightly better on the whole. There were certainly a lot of people who panicked and fixed in 07/08 who were bitten by the break fees
A. Because the rate offered is as low as it is likely to get eg say April 2009 when from memory 4.89 or 4.99 was available 3 year fixed; or
B. If you could not afford variable if they went up say 3 per cent
Otherwise if you're in for the long haul I think the research shows variable is slightly better on the whole. There were certainly a lot of people who panicked and fixed in 07/08 who were bitten by the break fees
