Due to the credit crunch lenders are being increasingly picky over who they lend to and under what terms, leading to the most competitive deals being pulled at short notice.

David Hollingworth, of London and Country Mortgages, said: "They are being much more careful about who they are lending to and how much business they take."

This comes at a time when millions may be looking for a remortgage as their fixed rate deals are set to end this year.  A recent poll, conducted by mortgage experts, revealed that one in 20 homeowners coming to the end of the fixed term are worried about being able to pay a higher rate but banks, lacking in access to credit, are also increasingly less likely to lend.