2yr fix vs variable vs 5yr “fix & switch”? (75% LTV) — what would you do?

Looking for some opinions from people who’ve been through this recently.

I’m around 75% LTV and trying to decide between:

• 2-year fixed

• 2-year variable/tracker

• Or those 5-year fixes where you can switch after 2–3 years without ERC (pretty sure Virgin Money does a “Fix & Switch”?)

My thinking:

👉 2yr fix / variable = flexibility if rates drop, but risk if they don’t

👉 5yr fix = stability, but don’t want to be trapped if rates come down

👉 The Virgin style 5yr fix with only a 2yr ERC sounds like a middle ground

From what I’ve seen, lots of people are going shorter fixes lately expecting rates to fall, but obviously nobody has a crystal ball 😅

If you were at 75% LTV right now, what would you go for and why?

Not financial advice — just interested in real-world experiences and reasoning.