1Your monthly budget is precariously balanced. An additional expense like an interest rate rise will tip you into the red.

2Fixed rates seem like good value compared with current variable rates, especially as the repayments won't go up.

3 You anticipate a global economic meltdown that sends mortgage interest rates soaring, but will leave you feeling a tiny bit smug.

4 Your lender or broker offers you a discount fixed rate that seems too attractive to pass up.

5 The lender says it will give you more money if you accept a fixed-rate mortgage. You're struggling to afford the place you want so you accept.

. . . And seven reasons not to

1You don't fancy having to pay a early repayment penalty to exit a fixed-rate if you want to move house or sell up within the term.

2If economists can't accurately predict what will happen with interest rates over the long term, how can you?

3By betting that a fixed rate will be cheaper, you are trying to outsmart banks that will already have priced likely future rate hikes into their fixed rate offers.

4Competition in the mortgage market means there are competitive new tracker mortgage rates available.

5Some lenders won't let you onto their best rates once the term of the fixed rate deal expires.

6If you unexpectedly receive a windfall or earn extra cash, you won't have the flexibility to use it to pay down your mortgage.

7If you can't cope with interest rate increases, perhaps you are overstretching your finances in your bid to get on the property ladder?