The average shelf-life of a mortgage is down to 14 days, says Moneyfacts. 

In a complete turn-around from the seasonal slowdown during January, the market is now entering a period of uncertainty amid global pressures. 

The last time the shelf-life was as short was at the start of August 2023, at 13 days, a month prior it was just 12 days, a record low (shelf-life captured since 2011). 

As a comparison, the average shelf-life was 15 days at the start of October 2022, when the ‘mini-Budget’ had an unprecedented impact on mortgage choice.

Overall product choice dipped month-on-month, but remained above 7,000 options. 

Moneyfacts warns that lenders may well pull more products until the future path of interest rates becomes clearer, but choice typically bounces back after short-term unrest.

Rachel Springall, Finance Expert at Moneyfacts, says: “Borrowers looking to refinance would be wise to act quickly to secure a new deal, as the significant push in mortgage activity during February has led to a significant fall in the average shelf-life of a mortgage to just 14 days. 

“Since this data was captured, there has been a notable shift in swap rates, amid the unrest seen in the Middle East. 

“It is worth noting that the average shelf-life of a mortgage has not been this low (14 days) for over two years, last lower for August 2023, at 13 days. This was just one month after a record low of 12 days recorded for July 2023.

“The general optimism heading into 2026 for the market might have suffered a bit of a setback, as it is looking incredibly unlikely that the Monetary Policy Committee will favour a cut to the Bank of England Base Rate (BBR).

“The reason rests on the uncertainty surrounding tensions in the Middle East; this puts pressure on inflation, gilts and as a casualty, swap rates – the latter drives the cost of fixed rate mortgages. A hold to the BBR should not delay borrowers from refinancing, as they can still save a significant sum by moving off a Standard Variable Rate (SVR).”