This is according to the Moneyfacts UK Mortgage Trends Treasury Report, which reveals that in a complete turn-around from the seasonal slowdown during January, the market is now entering a period of uncertainty amid global pressures.

As a comparison, the average shelf-life was 15 days at the start of October 2022, when the ‘mini-Budget’ had an unprecedented impact on mortgage choice.

Overall product choice dipped month-on-month but remained above 7,000 options. Moneyfacts suggests lenders may well pull more products until the future path of interest rates becomes clearer, but choice typically bounces back after short-term unrest.

Commenting on the latest data Moneyfacts finance expert Rachel Springall said: “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 (BBR).

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