Homeowners seeking out the very best remortgage deals with the top incentives and lowest interest rates find it hard to secure them without adequate equity levels.  Lenders have indeed become less tight fisted in the last few months when it comes to lending, but they are still reserving the best deals for the best borrowers.  Unfortunately it will be up to homeowners to find their way to building their equity levels outside the usual easy route of sitting back and watching property values climb. They will also have to do more work to find the lenders that truly want to do business.  There are lenders out there offering great deals it will just take more work to find them.

With the weak economy and a lack of consumer confidence the housing market has suffered tremendously.  This unfortunately has put the UK in a vicious and not easily escapable loop.  A weak economy contributes to a weak housing market and a weak housing market contributes to a weak economy and so around and around it goes. 

The lack of first time buyers has been the most impactful part of the damage the economy and tight lending practices has had.  Without first time buyers the property ladder has become frozen.  There is not the movement of first time buyers buying starter homes allowing homeowners to upgrade into larger properties and for empty nesters to sell their larger homes and then downgrade.  Most on the property ladder are stuck and expect to be so for a while.

The bright spot is that experts are voicing that there has been some improvement in the lending market as they see the Funding for Lending scheme picking up momentum now.  The reports of past months are showing that lenders were able to attract more borrowers and lending loosened in some regards.  Because of this, those homeowners that were in the past unable to secure a remortgage may want to reconsider a new attempt and those holding back may find this a great time to become more serious about getting a new deal.  Despite the economy and housing market merry-go-round there are bright opportunities from lenders for both hopeful buyers and remortgage seeking homeowners.