Mortgage refusal

Hi,
i recently went to my bank to get apply for a mortgage.
unfortunately they didn't like my finances so have refused me even though consolidating my debt would make me much better off on a monthly basis.
my question is will this go against me if i apply elsewhere?
i'm worried if don't get on a fixed mortgage we will soon see an increase to the base rates and ill be losing out.

thanks for any reply's...