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23 Feb 2020

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Fixed Rate Mortgage News 2009

Volatility and turbulence halves the mortgage product shelf life in a month

The latest issue of the monthly Moneyfacts Treasury Report on UK Mortgage Trends has given additional insight into one of many repercussions of a volatile and turbulent mortgage market.

Escalating fixed mortgage rates, combined with lenders withdrawing and replacing products as they become too marketable, have resulted in the average shelf life of a product reducing from 23 days down to just 14 days for the month of June.

Rate change has been the biggest culprit for this shortened life span as the number of available residential mortgage products only grew by 33 to 1,299 in the same period. Today, this figure has increased further to 1,305. 

Darren Cook, analyst contributing to the Moneyfacts Treasury Reports commented:

“It is bad news for consumers that mortgage deals are only appearing in the window for such a short period. There are now only a limited number of cheaper deals available and before the consumer has chance to look at them a second time, they are gone.

“LIBOR and SWAP rates are continuing to prove unpredictable and I would not be surprised if the shelf life is cut even further during the next few months.

“When the Bank of England cut interest rates by a total of two and a half per cent within two months back in November and December last year, the shelf life fell to only six days, which is less than the life of a pint of milk.”




Think carefully before securing other debts against your home, your home may be repossessed if you do not keep up repayments on your mortgage.

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