Mortgage deals are disappearing faster than ever. According to Moneyfacts, the average mortgage product stayed on the market for just 13 days in October, down from 14 days in September. Swings in swap rates led lenders to repeatedly reprice or withdraw deals.
That is still above April’s record low of eight days, which followed the initial impact of the US-Iran conflict. Even so, Moneyfacts’ Adam French warns that borrowers are now facing the most challenging mortgage market on record.
So far in 2026, the average shelf-life of a mortgage product is just 15 days, compared with 43 days in 2019. Moneyfacts says this year’s prolonged volatility stands apart even from the disruption caused by the COVID pandemic and the 2022 mini-Budget. Each new development in the Middle East has fed through to swap rates, which affect the cost of funding fixed-rate mortgages.
What does this mean if you’re moving? For buyers, a competitive rate can be gone within a fortnight, so preparation is everything. If you have a mortgage in principle, your paperwork ready and a broker on hand, you can act quickly when you find the right home. You will also be in a stronger position as a proceedable buyer.
For sellers, rate changes mid-transaction can put pressure on a buyer’s finances. That’s why we check each buyer’s position carefully before recommending an offer. A reservation agreement through our partner Gazeal can add certainty, committing both parties to the agreed terms while the legal process continues. With conveyancing support through The Guild of Property Professionals, we keep your sale moving so your buyer can secure their finance and reach completion without unnecessary delays.
If you are buying or selling in North London and want to move with confidence in a fast-changing market, our team is happy to talk it through.
Source: Estate Agent Today
— Drivers & Norris