Believe me when I say I'm no expert. I used to sit in my Economics A level class totally bewildered just waiting for the English lesson to start (and even that was just because the English Literature class was full of the prettiest girls at Esher College and I had a huge crush on Denise Knox).
So, with that caveat in place I'd suggest you have a quick scan of this article from The Times.
http://www.timesonline.co.uk/tol/money/property_and_mortgages/article6210306.ece
In the last paragraph it says that HSBC are offering a 3 year deal at 3.99% and that you can get a five year deal from Brittania at 4.24%.
All I'm going on is gut feel and the bitter experience of at least two previous property slumps but if I were in the market for a mortgage I'd be tempted to fix.
I guess that I should finish this post with a disclaimer about not offering financial advice etc but suffice to say that I was able to use this line in a wedding speech once:
"In 1981 I passed my A levels with ease..........well two "E"s actually".
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