Homeowners looking to remortgage have been lucky to be shopping at a time when the lending market is competitive. Whenever there is competition, especially stiff competition, it is usually good for the consumer. That has been the case recently as remortgage lenders are all fighting to gain the attention of borrowers. Low interest rates and incentives all are used to sweeten the offering and make a borrower, in this case, the homeowner take action. Yet, the market could be changing soon and that could mean the best deals of today might disappear.

The competition in the market has led to the profitability of remortgage lending being low. That has pushed many lenders to bow out. Tesco is perhaps one of the most notable due to the size of their mortgage lending. They are selling their entire mortgage lending business to another lender. It was a decision to best serve the business for lending is after all a business and not a charity.

With lenders such as Tesco leaving the lending market it means fewer competitors and fewer products on the market. In essence, it means fewer choices for homeowners when looking for a remortgage. That could mean that the remortgage deals available today might be on their way out.

Such a change in the market should have homeowners sitting up and taking notice. Shopping around for what savings are available through the current deals would reveal what benefits are to be had by remortgaging now. Then a homeowner must consider if waiting till later is a gamble worth taking.