Interest Rates

[RJJ]

I have funding from Lloyds for a business, 2% variable above bank base rate. I want to fix a portion of the loan for 10yrs to give a safety factor and this fixed rate quoted now is 5.82%.

Some information, loan is a substantial amount and loan term is over 15yrs.

My question is, when do you think interest rates are going to climb back up above 5%. I really dont want to leave the whole portion of the loan variable for its entire term. At the moment I am considering leaving the whole sum variable for 12mths to take advantage of low interest rates and having the portion that is fixed start in 12mths.

Any views or ideas welcome.