When it comes to remortgaging the primary concern for most borrowers will be “Will I pay more for my remortgage than for my current mortgage?”
The answer depends on what deal you opt for and what is happening in the economic climate.

At the moment remortgages in general are a little more expensive than usual as lenders are struggling to find funding for them. Also, with Bank of England interest rates so low, most lenders’ Standard Variable Rates are quite low too. The SVR is set a percentage above base rate and so move in line with the Bank of England’s movements.

If you choose not to opt for the SVR (which your mortgage automatically reverts to at the end of your mortgage term) when you remortgage you will get the change to fix your rate or take a tracker. A tracker rate will probably be slightly better than a fixed rate as it tracks the Bank of England base rate too however remember this means when base rates rise so will your tracker rate.
Fixed rates may be a little more expensive at the moment but if you fix for five years, for example, you know exactly what you will be paying for the duration of your mortgage term.

It therefore depends on your attitude to risk. If you want to opt for security, albeit at a slightly higher price, then go for a fixed rate remortgage. If you fancy taking your chances with the Bank of England base rate then go for a tracker.