New mortgage alert as rates and deals 'disappear quicker than ever'

New mortgage alert as rates and deals 'disappear quicker than ever'A broker said that it was never more important to be readyCommentsMoneySteven Smith Content Editor14:45, 13 Apr 2026View 3 ImagesThe current situation is volatile(Image: Oscar Wong via Getty Images)The average shelf-life of a mortgage plummeted to a record low of just eight days in March, down from 14 days in February, according to Moneyfacts — and a mortgage expert has urged borrowers to be ready to act at short notice or risk missing out. The previous lowest average lifespan of a mortgage was in July 2023, at just 12 days, the research from Moneyfacts showed.‌Reflecting the massive uncertainty caused by the war in the Middle East, the average mortgage shelf-life is now even lower than what it was at the start of October 2022, when it was 15 days following the notorious Liz Truss ‘mini-Budget’ that had an unprecedented impact on mortgage choice and sent rates spiralling upwards.‌One broker, Stephen Perkins, managing director at national mortgage broker, Yellow Brick Mortgages, said it had never been more important for anyone considering buying or remortgaging at present to have their ducks in a row.‌He said: “The speed at which events in the Middle East are unfolding and the possibility of peace and a ceasefire one minute and a prolonged conflict and energy crisis the next, means lenders are pulling or repricing their products far more than normal. A product could become available on a Monday and, a week or so later, be gone altogether."That, for now at least, is the new normal. It’s therefore vital that borrowers are document-ready to ensure they can secure a rate before it may be pulled altogether.”View 3 ImagesStephen Perkins(Image: Stephen Perkins/Newspage)‌Stephen said documents people needed to have close to hand and ready to share with their broker included the last three months’ payslips and latest P60, if employed, or latest two years’ accounts and tax year overviews if self-...