Homebuyers and homeowners looking to remortgage are being urged to act early after new research revealed that the average mortgage product is now remaining on the market for just 13 days before being withdrawn or repriced by lenders. According to recent figures from Moneyfacts, ongoing volatility in swap rates has resulted in lenders regularly changing their mortgage offerings, leaving borrowers with a much shorter window to secure a competitive deal.

The data shows that mortgage deals are disappearing faster than ever, with the average product shelf-life falling from 14 days to 13 days. Moneyfacts reports that mortgage products have lasted an average of just 15 days throughout the year, highlighting the pace at which lenders are reacting to changing market conditions.

While this may sound concerning for buyers, it also reinforces the importance of planning ahead, particularly for homeowners approaching the end of their current mortgage deal.

Andy Allwood, Mortgage Adviser at Bradleys Mortgages, commented:

"With mortgage products being repriced and withdrawn so quickly, preparation is key. Whether you're looking to buy a property or remortgage your existing home, we would encourage borrowers to start reviewing their options around six months before their current mortgage deal ends. This gives you the opportunity to secure a competitive rate for your circumstances while there is still plenty of time available.

"In many cases, lenders will allow you to reserve a new rate several months in advance. If rates improve before completion, we can often review the market again and potentially switch to a better product. By planning ahead, you're protecting yourself against future rate increases whilst still retaining flexibility should rates become more attractive."

For those coming towards the end of a fixed-rate mortgage, leaving arrangements until the last minute could mean missing out on a suitable deal altogether. Starting the process early allows borrowers to assess their options, secure a rate and reduce the stress of making decisions in a rapidly changing market.

Whether you're purchasing your next home, moving up the property ladder, buying for the first time or considering a remortgage, professional advice can help ensure you're making the most of the opportunities available.

If you'd like to discuss your mortgage options, whether you're buying or remortgaging, contact Bradleys Mortgages today. Our team of experienced advisers can help you secure the right mortgage for your circumstances and guide you through every step of the process.