Fixing Mortgage for 2 or 3 years?

We have a small mortgage 27,000 over 7 years.

We got the mortgage from KBC 3 years ago and we are in our sixties. We had it fixed but are now on variable 3.24% paying 364 euro/month. We can get a fixed rate for 2 or 3 years and pay only 8euro/month more.

For security reasons we would like to fix but aren't sure if we should go for a 2 or 3 year fixed term as the rate is the same at 3.99%.

Any advice would be greatly appreciated.

As security of repayments is the reason you are fixing then I would advise going for the 3 year fixed unless you can see your financial situation improving between years 2 and 3 or if you will have access to pay off a lump sum between 2 and 3 years.

Why not fix it for 5 years? For peace of mind it may be worth paying the extra premium.

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Given the circumstances you've outlined, I'd agree fully with NorfBank's advice...