Fixed vs Variable Mortgage: Choose Your Rate Type

Fixed feels safe, variable feels cheaper, and the advice online assumes someone else's life. This compares the two rate types against your situation: job security, plans to move, how much payment certainty you need. It explains what moves a variable rate and tells you when each one wins. For anyone choosing a mortgage and unsure which way to lean.

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You are choosing between a fixed-rate and variable-rate mortgage. Your circumstances are: [brief description of financial situation, job security, plans to move].
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<task>
**Compare the two rate types for your situation:**
1. How each type works and what drives the variable rate (Bank of England base rate, lender SVR)
2. Security vs flexibility trade-off: when fixed wins, when variable wins
3. Stress-test: what happens to monthly payments if the variable rate rises by 1%, 2%, 3%
4. Overpayment rules: which type typically allows more flexibility
5. Current market context: is it a rising, falling, or stable rate environment and how does that affect the choice
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<output_format>
- Comparison table: fixed vs variable across 6 criteria
- Stress-test table showing payment changes at +1%, +2%, +3%
- A recommended choice for the stated circumstances with a one-paragraph rationale
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