Remortgage seeking homeowners may finally be pleased enough with offerings from lenders to come off of the wait and see pedestal and seek a new deal.  The Funding for Lending Scheme set in place by the government in August 2012 is starting to have a positive impact for homeowners.  Buyers have already taken to the low interest rates brought about by the scheme, especially first time buyers.  However, homeowners were less than impressed by offerings from lenders in previous months.

Currently, lenders are in a competitive mode and hoping to get homeowners to switch to a new deal.  There are still a large number of homeowners that let their current mortgage deal end and did not seek a remortgage.  Those that did were moved to their lender’s risky standard variable rate when their mortgage deal ended.  Despite the fact that many SVR levels were increased last year it didn’t push up the demand for remortgages.  The current low interest rates and free incentives being offered from lenders is seeming to draw the attention of those homeowners that have waited to see things get more attractive on the remortgage market. 

The very best remortgage deals had been reserved for those with the best credit and the ability to offer high equity levels toward their remortgage deal.  Now deals are getting better for those that have less than stellar credit histories and lower but still adequate equity levels.  Still those with complicated remortgage needs could possibly find a better deal than previously offered by seeking the help of a remortgage broker or expert.  Remortgage deals are very good as lenders continue to compete for the attention of homeowners.