Currently we are on a SVR with nationwide(2.5%) when we came out of the fixed rate product in the beginning of 2009. We thought we were lucky as the rate was the lowest in the market and also nationwide was not givign it for anymore new customers.

Now we are confused as everyone is recommending to go for a fixed rate.When costed for the next 5years still our 2.5% looks the cheapest.. But we are also puzzled whether we are missing any point while calculating this cost and we dont want to loose a big time...we are also not planning to move home or anything in the near future.so we can stay in SVR as long as it is the best thign to do..but whther it is the best we dont know..can anyone help..?

IF you're only looking at a 2-3 year fixed term then I don't think fixed rate vs variable matters too much.

To be honest, most fixed deals suck badly at present, with rates around 4%-5% common.

I'm on a Nationwide tracker, currently at around 2.5% as well, and looking to stay on this as long as possible!