Brokers say product withdrawals and repricing are accelerating, forcing quicker decisions from both advisers and clients
Mortgage brokers say they are being forced to move faster as lenders withdraw and reprice products with increasing speed, in some cases giving only hours’ notice. For advisers, the challenge is no longer just pricing, but timing.
That shift is placing pressure on brokers to secure deals quickly while managing client expectations in a market where pricing can change rapidly.
Carolyn Dunion, director at McKendry Dunion, said both withdrawals and repricing have become more frequent in recent weeks.
“Both withdrawal and repricing has been happening more frequently in the last few weeks. There is no denying that the trend for interest rates is up. However, it is important to note that whilst rates are generally higher, they are still not at the level they were after the Liz Truss budget. So annoying but not game-changing for most clients.”
Speed pressure
The issue is no longer just rising rates, but how quickly products are being pulled from the market. Charles Calvert, managing director at Easy Mortgages, said the pace of change has picked up sharply.
“With everything going on globally - economic uncertainty, political noise, market reactions - lenders are reacting quickly. Just last week, I saw multiple products pulled on the same day, some with only a few hours’ notice.”
The pace is compressing decision-making timelines and increasing pressure on brokers to act quickly to secure deals.
“I’ve had evenings where I’m chasing documents, packaging cases, and submitting applications late into the night just to secure a rate for a client before it disappears. Because if we miss it, the consequences are very real - it could mean that client paying significantly more every month for their home.”
Client response
Despite the volatility, brokers say clients are responding by making quicker decisions rather than stepping back from the market.
“Clients seem aware of the uncertainty and are making quicker decisions. Anecdotally we haven't seen client confidence drop to much and it is so important that we can continue to nurture confidence in the property and borrowing markets.”
David Titherington, mortgage & protection adviser at The Mortgage Station, said while clients can be frustrated when deals disappear, behaviour has not yet materially shifted.
“I’m not sure I’ve seen it affecting decision making just yet although that could well change. They’re obviously disappointed if my initial quote has disappeared. Thus far they’ve gone with whatever the ‘new’ best deal is.”
Advice shift
The speed of change is reshaping how brokers manage cases, with less room for delay across the process.
“We are having to be acutely aware of lender update emails and need to keep the flexibility to respond, often with only hours of notice, when necessary,” Dunion said.
Titherington added that speed now runs through every stage of the transaction. “I’m really just highlighting that we need to move quickly if we want to secure a rate, be that getting me documents, making a decision on a product or making a decision on a property due to the changing landscape.”
In a market where deals can disappear within hours, hesitation is increasingly coming at a cost.
