Fleet Mortgages has given brokers a few hours’ notice that it is withdrawing all fixed rate products at 5pm today due to “extreme market volatility”.

The lender will be pulling all fixes from sale, including those for product transfer, but trackers will remain unchanged.

It comes after Coventry withdrew all new business products for both residential and buy-to-let yesterday and has yet to replace them.

Many other lenders have announced rate hikes or product withdrawals to take place today or in the days ahead, following sharp movements in swaps.

Fleet’s update to brokers does not say when it will relaunch deals.

It says: “We’re writing to let you know that due to extreme market volatility, we are temporarily withdrawing all existing Fixed Rate products, including Product Transfers, at 5:00pm tonight, Monday 23rd March 2026.

“Our Tracker products remain unchanged.

“We intend to release a new range of Fixed Rate products as soon as possible.”