2555: Should I go for a 1 year or 2 year fixed mortgage?

Paddy asks the question: I need to renew my mortgage, should I get a 1 year fixed mortgage or a 2 year fixed? “UK inflation is set to drop markedly for October amid continued efforts to tackle the higher cost of living, the governor of the Bank of England has said. Andrew Bailey indicated inflation will return to its recent pattern of slowdowns after the Office for National Statistics (ONS) recorded a surprise pause last month, leaving inflation at 6.7 per cent in September. The Bank of England previously forecast that Consumer Prices Index (CPI) inflation would hit 4.9 per cent by the end of the year. Inflation is expected to fall significantly this month due to a comparison against sharp energy price increases seen over the same month last year.” INTEREST RATE WISE - WHERE DO YOU THINK WE ARE IN REGARDS TO THE AVERAGE?  Interest Rate in the United Kingdom averaged 7.11 percent from 1971 until 2023, reaching an all time high of 17.00 percent in November of 1979 and a record low of 0.10 percent in March of 2020. Companies talked about: Destiny Pharma #DEST Silver Bullet Data Services #SBDS Good Energy #GOOD Getec #GTC  Polarean Imaging #POLX