LauraZ:professional advice appreciated.

If you read the first post on the mortgage forum, you'll see that professionals aren't allowed to directly advertise their services on here. I think your best bet would be googling free mortage advice and talking it through "face to face" with a professional.

Alternatively, I think there is a website - unbiased.co.uk or something like that - which is often quoted on here when people ask for recommendations for mortgage advisors...

LauraZ:

do i go for a fixed 2 year, 3 year, 4 or 5 year rate? interest only or repayments??

Yes.

Your guess will be as good as anyone's where rates will be in a few years. Personally I do not like the idea of having to rearrange things and pay fees every few years so I prefer variable rate mortgages over 20 - 30 years. Other people prefer the certainty of knowing, to the penny, what the mortgage will be costing for the next few years.

Interest only mortgages tend to be for people who are struggling to make any payment above the minimum needed to stay in the property. No payment is made towards the capital so that, at the end of the mortgage, the same amount of money is owed as at the start. This doesn't sound like what you are looking for but, apart from that, the answer to your question is yes, one of the others should suit you.

i am a first time buyer, needing to get a mortgage 54% of the property price (£200k) . i am looking to speak to good mortgage brokers who can get me a competitive rate. the question is do i go for a fixed 2 year, 3 year, 4 or 5 year rate? interest only or repayments?? i can afford to pay a mortgage repayment so that is not a problem. i am looking for the cheapest short-long term option. i will most likely not be changing my personal situation in the enxt 3-5 years either so a fixed rate is ok. professional advice appreciated.