Mortgages: At a glance

• Five-year fixed rate mortgage costs are at their most competitive on record, with some now below 4 per cent.

• Economic uncertainty and falling house prices add to the argument in favour of moving to a fixed rate.

• Interest rates could remain low for a while yet, however, meaning borrowers have more time if they are happy to stay on their current SVR for longer.

• Whether a fix is a good move or not depends on several factors, including current costs, the amount of equity in the property and other individual circumstances.