For those seriously considering remortgage this may be the time to act. Analysts have predicted the rates will change. Whether the Budget influences inflation in a positive or negative manner at first will determine the direction of the change. Yet rate value is not the only consideration a homeowner should have when it comes to shopping for a remortgage. Whether lenders have money to loan is the other.

The threat of a rate increase is definitely a reason to consider whether now is the time for a remortgage or to buy a first home. However, another issue for remortgage customers or first time buyers is that current requirements for borrowers are expensive and strict. Things could get worse. Lenders do need borrowers, so with reports of sluggish loan approval numbers those wanting a home loan may find it beneficial to shop now when there is a need for applicants.

Mortgage approvals for the month of May were 51,000. That is a slight rise from the 48,000 approved in April. That is still far below the 61,000 high for last year in November. In pre-crisis time the numbers averaged over 100,000.

The reason for the lower amount of remortgages is thought to be because most homeowners obtained their remortgage last year. Still others believe it is because people have chosen to pay down debt and stay in their current mortgage, especially if their credit rating took a hit or their pay changed due to the economy. For now, this equates to a favorable environment for remortgage customers.

Lenders are in the business of lending money. While lending has been constrained and for those with credit problems a new loan or remortgage can be expensive as far as required deposits, there are lenders looking for borrowers. If a remortgage is something you’ve been considering then the threat of a rate change may not be the only reason to make a move now. It’s also important that you shop for a remortgage when there are lenders willing to loan.