Deals pulled faster in March, with average shelf-life dropping to just eight days
Mortgage products were withdrawn and replaced at a faster pace in March, with the average deal remaining on sale for just eight days, according to a new report.
Price comparison site Moneyfacts, in its latest UK Mortgage Trends Treasury Report, said the eight-day “shelf-life” was the shortest average recorded since its tracking began in November 2011, down from 14 days in February.
The previous low point was 12 days in July 2023. The figure is also below the 15-day average seen at the start of October 2022, when the mini Budget triggered sharp disruption to pricing and availability.
“The lifespan of a mortgage deal has plummeted to a record low of just eight days on average and mortgage product availability has shrunk by around 17% in just one month,” said Rachel Springall (pictured right), finance expert at Moneyfacts.
The report also shows overall choice narrowed during March, with 1,283 fewer products month on month. The total fell to 6,201 options, the first time the market has been below 7,000 since November 2025, and the lowest count since March 2024 (6,004). Moneyfacts said lenders reduced ranges during March 2026 as expectations for the path of interest rates shifted.
Using first-of-month data, Moneyfacts reported that average fixed rates rose strongly. Since the start of March, the average two-year fixed rate increased by 1%, the biggest monthly rise since November 2022 (1.04%). The average five-year fixed rate rose by 0.79%, the largest monthly increase since July 2023 (0.80%).
Standard variable rates remained materially higher than fixed rates. The average SVR was unchanged at 7.13% month on month, and down year on year from 7.60%. Moneyfacts said the highest recorded SVR was 8.19% in November and December 2023.
“Fixed mortgage rates noted sizeable marginal increases month-on-month, such as with the average two-year fixed rate rising by 1% for the first time in nearly four years, way back in November 2022,” Springall said.
“The unrest in the Middle East caused mortgage mayhem, with lenders rushing to pull products from sale and reprice at higher rates throughout March. Unfortunately, this has led to a drop of almost 400 options for borrowers with just a 5% or 10% deposit or equity, awful news for first-time buyers. The market overall has experienced the worst upheaval to mortgage choice since the mini Budget, yet another blow for borrowers over the past five years, which includes the surge in interest rates during the summer of 2023 amid higher inflation expectations.”
Springall added that concerns surrounding the possibility of inflation getting out of control this year has completely flipped the projected path of interest rates. “The start of 2026 appeared promising, especially for borrowers about to remortgage, but it’s all changed,” she said.
“The tide could turn once the markets feel more confident about future rate pricing, but borrowers who are due to come off a deal soon will be incredibly frustrated by mortgage rate hikes. If someone took out a typical mortgage now, compared to the start of March, it would cost them around £1,800 a year more in repayments on a two-year fixed deal. Worse still, borrowing the same size loan on a typical mortgage now, compared to 2021 on a five-year fixed deal, would cost around £5,000 more in mortgage repayments over one year.
“It will be essential for borrowers to keep calm and seek advice from a broker to navigate the mortgage maze. Brokers are an anchor during times of turbulence as they can help borrowers understand how they can best afford a mortgage or plan the available options months in advance. Borrowers could try to overpay their mortgage, as paying just £100 more per month can shave almost three years off their loan and save over £25,000 in interest on a typical mortgage charging 5%.”
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