The best advice would come from your broker

There are a lot of people who are of the view that getting a deal based on fixed rate mortgage is the best. To some extent, they are right, however, there are other options as well that have some of the best features that you can enjoy and will certainly feel them to be a better option than going for a fixed rate mortgages. 

Variable rate mortgages are the kind of option that might be a better one in some ways. Although, you will have to experience some fluctuations in the interest rate which would primarily be because of a change in the bank interest rate, but, still there are some of the benefits that might not be enjoyed in other options. 

First of all, when you will compare it to the fixed rate mortgages, you will find out that there would certainly be some times when you will have to pay far less than what you might be paying in the fixed rate mortgages. This certainly is a relief and you can hope for the bank rate to say low, because it will keep your interest rate low as well but that will not be a case in fixed rate mortgages.  Also, you can have the option of going for a cash-back mortgage and other such benefits.

However, you must decide after harking on what your mortgage broker has to say over these options. Also, you can consult them if you are looking to know about an option of remortgage.