There are a large number of homeowners that will have their current mortgage deals end in the month of October. They are going to have many opportunities available to them in the remortgage lending market that were not present only months ago. Remortgage lending has become more competitive and lenders have also become more creative. There are many more remortgage products, many with low interest rates and some lenders are offering historically low rates. Fixed rate remortgages are being offered with terms in 10, 20, and 30 years.

Some homeowners not yet at the end of their current mortgage term could find the current market so attractive as to inquire as to whether they should wait or remortgage now. Even with a fee paid out due to ending their mortgage early, they might still yet find a deal with substantial savings and/or other benefits too good to miss.

Experts suggest that all homeowners consider shopping around to see what remortgages are available to them and what savings could be found. Then they can make a smart decision with the information they find. It is also suggested that homeowners push aside any loyalty to their current lender as the best deal for them might be with a different lender.

In seeking a remortgage, the borrower should also consider the overall savings of a remortgage. There could be more costly fees with the lowest interest rate offer that would negate any savings by the lower rate. Whereas, a deal with a slightly higher interest rate and lower fees would be the true savings offer for some homeowners.