Hi Graham,
Yes, this will be your fan oven element that has gone.
Make sure you power off before repair:
1. Remove the back plate from inside the oven - this will expose the element and fan blades.
2. Remove 3/5 screws holding the element in place.
3. carefully remove the element taking care not to pull of the wires until the element is free.
4. Remove the wires and replace with and element from us which is available here - copy and paste into your browser:
http://www.ukapplianceparts.com/elements.asp?search_fd5=se553w
Lee, January 2007