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There is no denying that there are far fewer mortgage deals available these days and, when combined with all the recent negative media coverage, it is no wonder that many borrowers feel they have no option but to stick with their current lender.

However, the good news is a number of lenders have recently launched more competitively priced remortgage deals, especially in the sub-75 per cent loan-to-value band.

Some of these deals include free valuation and legal fees and borrowers should therefore ask a mortgage adviser for help, rather than jump to potentially incorrect conclusions.

When mortgage advisers review their clients' current mortgage deals, they need to pay particular attention to their future needs, as well as focusing on price.

It may be, for example, that although sticking with an existing lender's SVR provides the lowest rate currently available, a longer term fixed rate may better suit their clients future needs, especially when their attitude to risk is taken into consideration.

Research recently undertaken by Abbey has shown 52 per cent of borrowers would now choose a fixed rate deal - up from 35 per cent six months ago - and the majority would opt for a three-year fixed rate, rather than two or five-year deal.

Lisa Barber is director of sales and distribution at Mortgage Next.