The Brexit deadline is drawing closer and as decisions are being made by government there is another important situation developing. Remortgage lending is becoming more competitive by the day. Lenders are expecting a large number of homeowners to be shopping for a remortgage. To gain the attention of those homeowners, lenders are putting out better and more creative remortgage products.

A large number of homeowners are due to have their current mortgage deal end in October. To escape rising interest rates and the often risky lender standard variable rate (SVR), a remortgage is the path to peace of mind. With low interest rates available and for some homeowners a substantial savings to be found, overlooking the opportunities available could be costly.

There are also a large number of homeowners that have already had their current mortgage deal end and have been moved to their lender’s SVR. Because of the uncertainty of Brexit, they are expected to seek out a remortgage to secure a low interest rate while they are so attractive.

Due to those looking to remortgage, and the slowing down of the mortgage market as the housing market cools, lenders are looking to grab the attention of homeowner borrowers. For those looking to save money and secure a low interest rate for years to come, the time to consider a remortgage could certainly be now. Remortgages are expected to be some of the best ever offered by lenders throughout the end of the year, however, lenders could pull their best deals without notice.

Since it can take some time to complete the remortgage process, taking action sooner rather than later could be the best choice to make and the most complicated choices will be when the homeowner has so many great remortgage offers to choose from.