Mortgage deals are disappearing at record speed as lenders scramble to reprice in a volatile rate environment.
Latest data from Moneyfacts shows the average shelf-life of a mortgage has fallen to just eight days, down from 14 days in February and the lowest level since records began in 2011.
The shrinking window reflects a market in flux, with lenders rapidly withdrawing and relaunching products amid uncertainty over interest rate expectations.
Product availability has also tightened sharply. The total number of mortgage deals fell by 1,283 month-on-month to 6,201, pushing choice to a two-year low and below 7,000 options for the first time since late 2025.
UPWARD PRICING
At the same time, pricing has shifted upwards at pace. The average 2-year fixed rate rose by 1% during March – the steepest monthly increase since November 2022 – while 5-year fixes climbed by 0.79%, the largest rise since July 2023. The average standard variable rate remains higher at 7.13%.
SHRINKING PRODUCT CHOICE
Rachel Springall, finance expert at Moneyfacts, said: “The lifespan of a mortgage deal has dropped to a record eight days, with product choice also shrinking sharply as lenders pulled deals and repriced.
“Fixed rates saw significant rises during March, driven by market volatility, leaving borrowers – particularly those with smaller deposits – facing fewer options and higher costs. Those coming off deals will feel the impact, with repayments now notably higher than just a month ago.”
