Had this problem myself and just fixed it! It is the heating element. Easy to replace. I would say the hardest part is finding where the element is!
From the front of the oven, look at the back where the fan is. Chances are there will be a cover which is connected by 2 (perhaps 4) screws. Remove screws and cover and the element will be around the fan. To remove the element, you will have to remove the back cover of the cooker. The element is normally connected by a couple of self-tapping screws. The electrical connection is by a couple of spade clips (that is just pull off, push on, no soldering or the like!) I can fully recommend Spares2Go.co.uk for the part but that is for the UK!
Needless to say, unplug the cooker before you start but the replacement of the element is an easy job. About 6 screws to remove, 2 spade clips to pull off push on, and not very expensive. Good luck
Gary Davis, August 2006