Why didn't England send out more explorers soon after John Cabot's ships were lost?

After John Cabot's ships were lost in 1498, England faced several challenges that hindered further exploration. The financial burden of Cabot's expedition, coupled with political instability and competing interests, led to a cautious approach. England was also preoccupied with domestic issues and the need to consolidate its power after the Wars of the Roses, which diverted attention and resources away from overseas exploration. Additionally, the focus on the lucrative trade routes established by Spain and Portugal limited the urgency for England to invest in new explorations at that time.