unfavourable to persist with it, and to replace it with a variable arrangement that takes account of the change in circumstances. However, lenders generally tend to protect themselves from such actions by including, and if necessary invoking, a contractual penalty clause for early settlement.

So to a large degree the question of whether to seek a fixed rate remortgage deal or a variable arrangement depends a great deal upon whether one prefers to opt for safety first or to take a chance on the market moving in the right direction. The latter is a better option for those with the confidence to be speculative in their approach.

It is unlikely that fixed rates will vary radically from one reputable provider to another. However it is the amount payable, the repayment period and any buy-out clause that will differentiate one from another, and in these areas it is important that the borrower is successful in achieving the deal that gives peace of mind.

A comparison site will be able to provide all the information a potential borrower needs both on the pros and cons of taking out a fixed rate remortgage as opposed to any other kind, and also on the various options available to those who plump for this particular route.

The popularity of fixed rate mortgages over other more flexible options should not blind us to the drawbacks of becoming committed to a regular repayment that makes no allowance for improving economic conditions.