Variable-rate mortgages

Ray Boulger, a spokesperson for the broker, claimed that many of the fixed-rate deals on offer are "too expensive", even if they have got cheaper over the past month.

In his view, it is still likely that interest rates will stay low for at least another year, so the smart choice is to go for a variable or tracker rate mortgage.

Mr Boulger explained: "The differential between fixed and variable-rate pricing still means that fixed rates are discounting a quicker and larger rise in interest rates than looks likely."

However, he also highlighted an increase in competition among lenders offering fixed-rate products, which is helping to give customers better value for money.

This week, John Charcol commented on Barclays' acquisition of Standard Life by saying that it is negative news for consumers, since the move will reduce the number of active brands.