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Hi gibbo, as others have said, i think paying a premium for certainty is not a bad thing. There are very uncertain times ahead: credit control is being rapidly tightened and will be be refused to applicants requesting 4x/5x their income. Add to that an overdue slowdown in the UK property market and the apparent cooling down of the economy, and you begin to see the turbulence ahead.
If i was in your position, get the 5yr fixed deal and pay as much of it off as you can. After that period, your mortgage balance could be so low, you need not care what interest rates are!
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