A longer fix will give you security for longer, but there is a premium in the form of a higher interest rate. The Early Repayment Charges will also be significantly greater on longer mortgages too.
The major downside is that sticking with one rate for so long means that you might miss out on even better rates over the coming months if they continue to fall. Although, you won't have to pay the charges that come with remortgaging for five years so at least you'll saving money on that front.
And as obvious as it sounds, make sure it's a property you'll be staying in long-term, or at least for the length of the deal. If you think you'll be likely to move home over the five years, check your mortgage deal to see if it's portable and what fees are associated with it. It'll save you those nasty early repayment charges.
In Zoopla's list of the most viewed properties in recent weeks, this whopper comes in at number 9.
The £2 million property in Doncaster has planning permission to be turned into a hotel or wedding venue, and has been seen a whopping 14,000 times in a month.
This two-bedroom flat in Canary Wharf is on the market for £675,000. The attractions of imagining your life in a warehouse conversion with plenty of space and light means that 16,000 people have looked at it in a month.
This new five-bed property in South Oxfordshire is an excellent example of how much prices have risen in that part of the country - with an asking price of £1.195 million.
Clearly the attractions of being near Reading (without actually being in Reading) are driving enormous demand - with 37,000 views in a month
This five-bedroom detached house in Skelmersdale is on the market for offers over £210,000. The fact that such a normal-looking family house has been seen by 45,000 people in a month owes something to the fact that the owners built it themselves - to a particularly high spec - and as a result it is pricey for the area.
This four-bed detached house doesn't look particularly striking from the front, so it must be hard to see why it's worth £299,950 - an impressive sum for the area. This goes some way to explaining its 69,000 views in a month.
All is revealed round the back, however, as the property opens up in acres of glass to reveal spacious open-plan living.
This newly built seven-bedroom detached house has enough attractions to justify the £3.25 million price tag (not least the underground car showroom with space for 30 cars). The 73,000 views may also have something to do with the elegant writing style of the estate agent.
Phrases used in the listing include: "This must be the jewel in the crown for Royal Sutton Coldfield gentry." And: "The rear garden is enchanting."
On the outside it's a bog standard terrace in Bootle, Merseyside. But on the inside its a dramatically refurbished property with statement lighting aplenty.
It's no wonder this £85,000 property had 80,000 views in a month - and is the third most-viewed home.
A two-bedroom flat in the former home of Arsenal Football cub is on the market for £660,000. Clearly die hard fans have been captivated by the idea of living in this iconic building - complete with a grass courtyard with plenty of room for a kick-about. It has been viewed an impressive 95,000 times, making it the second most viewed property.
But the most viewed home in the country is the six-bedroom Lindisfarne Farm in County Durham - on the market for just £175,000.
An incredible 475,000 people have seen it in the past month, drawn by the enormous rooms, the incredible views, and the idea of being able to live a simple life, away from it all, for just £175,000.