Mortgage activity during February resulted in a significant fall in the average shelf-life of a mortgage product to 14 days, new data from Moneyfacts has revealed.

This was recorded on 1 March with Moneyfacts suggesting the mortgage market is in a period of uncertainty amid global pressures.

According to Moneyfacts’ figures, the last time the shelf-life was as short was at the start of August 2023, at 13 days. As a comparison, the average shelf-life was 15 days at the start of October 2022, when the Liz Truss mini-Budget had a significant impact on mortgage choice.

Overall product choice has dipped month-on-month but remained above 7,000 options. Moneyfacts said that lenders could pull more products until the future path of interest rates becomes clearer, although it noted that choice typically bounces back after short-term unrest.

Finance expert at Moneyfacts, Rachel Springall, commented: “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.

“This is a complete contrast to the notable seasonal slowdown in activity during January. However, since this data was captured, there has been a notable shift in swap rates, amid the unrest seen in the Middle East.”

Moneyfacts last week reported that 472 residential mortgage products were withdrawn from the market by lenders in the space of 48 hours, in response to the turbulence in the Middle East.

“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,” added Springall.

“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 rate should not delay borrowers from refinancing, as they can still save a significant sum by moving off a standard variable rate (SVR).”

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