Reports on remortgage lending has revealed that there has been a remaining demand for remortgages by homeowners seeking to take advantage of the low interest rate offers of lenders.  Offers have been quite good recently as a competitive environment has insured that lenders are bringing out better rates and more remortgage products.  A lack of any threats concerning a possible interest rate hike has pushed lenders to offer competitive deals to get homeowners in to remortgage.  Homeowners have been responding and taking advantage of the offers as is evidenced by such reports as that from the Council of Mortgage Lenders showing that in a year to year comparison remortgage loans have increased by 25 per cent in according to their September data.

Another topic of information revealed recently is that there are a large number of homeowners that have yet to remortgage.  They are feeling confident paying on the lender’s variable rate once their mortgage deals have ended.  Unfortunately this confidence could end should lenders decide to pull their best deals off the market at about the same time that lenders move their variable rates upward.  The problems in the eurozone as well as the threats of a possible double dip into a recession could evaporate the competitive environment of remortgage lending and change it to one that is more cautious.  With remortgage deals so low, lending having eased up from its previously tightened state and so many remortgage products available there is no reason not to seriously look at remortgaging now.  Experts agree that a homeowner that can remortgage should definitely do so and grab a multi-year fixed rate remortgage and insure that they are protected from the interest rate increase that will eventually emerge.