Lenders allow deals to be booked up to six months ahead, Moneyfacts notes
Mortgage deals are being pulled from sale after an average of just 13 days, according to Moneyfacts, leaving brokers and their clients little time to compare and lock in a rate. The firm’s UK Mortgage Trends Treasury Report found average product shelf-life slipped to 13 days in September from 14 in August, as swings in swap rates prompted lenders to reprice or withdraw deals repeatedly.
The figure is still well above the record low of eight days recorded at the start of April, after the US-Israel strikes on Iran began at the end of February. So far in 2026, shelf-life has averaged 15 days across January to September. That compares with 20 days in 2025, 34 in 2020 and 43 in 2019.
Moneyfacts said the pandemic and the 2022 mini-Budget caused sharp short-term disruption. It described this year’s instability as a “significant step change” because it has lasted so long.
Rates rise as choice widens
Swap rates, which lenders use to price fixed deals, have moved with each twist in the Middle East conflict. The two-year swap rate stood at 4.75% on 14 October, according to Mortgage Compare.
Moneyfacts figures for 1 October show the average two-year fixed rate at 5.93%, up from 5.59% a month earlier and 4.98% a year ago. The average five-year fix was 5.95%, marginally above the two-year. Buyers with a 5% deposit (95% loan-to-value, or LTV) faced an average two-year rate of 6.37%, while those at 60% LTV saw 5.42%. The Moneyfacts Average New Mortgage Rate rose to 5.83% from 5.55% in September.
Choice has grown even as deals churn faster. The total product count reached 8,696, up from 7,516 in September and 6,201 in April. The standard variable rate was unchanged at 7.13%, and the average two-year tracker was 4.54%.
Further moves are possible. The Bank of England held Bank Rate at 3.75% in September, with three of nine members voting for a rise, and its next decision is due on 5 November. The Budget follows on 28 October.
Little room for error
Adam French, head of consumer finance at Moneyfacts, said: “Brokers and borrowers are navigating the most challenging mortgage market in modern records. Not only have rates been jumping up and down but the deals available today may not be here tomorrow either.”
He said a borrower who finds a good deal may see it withdrawn before they are ready to proceed, while those who wait may face a different rate. He added: “Global uncertainty is making it hard to act with confidence – for many borrowers it is more a case of luck than judgement.”
Moneyfacts urged anyone nearing the end of a fixed rate to start early. French said: “Anyone approaching the end of a fixed-rate mortgage should consider their options early and speak to a mortgage broker about the deals available to them. Many lenders allow borrowers to secure a new deal three to six months before their existing one ends, which can give some insurance against further rate rises. It is also important to look beyond the headline rate and consider the overall cost of a mortgage, including fees and any conditions attached to the deal.”
For brokers, the message is that client conversations about remortgaging may need to start earlier than usual, with fees weighed alongside headline rates. Moneyfacts says the shorter window has left borrowers with less time than at any point on record to find, compare and secure a competitive deal.
