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Many mortgage borrowers are opting for fixed deals because they believe they will offer them security, an expert has suggested.

However, consumers need to be aware of the problems that may arise once their current product comes to an end, noted editor of What Mortgage Ben Wilkie.

"If you have been on a fixed-rate where you have got used to paying one certain amount and then suddenly you switch on to a variable, then that could be a huge amount of difference," he explained.

Mr Wilkie highlighted that people need to protect themselves as well as possible from future interest rate rises, which are likely to be seen later this year.

The Council of Mortgage Lenders recently reported that gross mortgage lending in February stood at an estimated £9.5 billion.

This was broadly similar to the previous month, when lending totalled £9.475 billion.