Mortgage product shelf life halves in last month

Rate change has been the biggest culprit for this shortened life span as the number of available residential mortgage products only grew by 33 to 1299 in the same period. Today, this figure has increased further to 1305.

Darren Cook, analyst contributing to the Moneyfacts Treasury Reports said: "It is bad news for consumers that mortgage deals are only appearing in the window for such a short period. There are now only a limited number of cheaper deals available and before the consumer has chance to look at them a second time, they are gone.

"LIBOR and SWAP rates are continuing to prove unpredictable and I would not be surprised if the shelf life is cut even further during the next few months.

"When the Bank of England cut interest rates by a total of two and a half per cent within two months back in November and December last year, the shelf life fell to only six days, which is less than the life of a pint of milk."

Have your say on this story using the comment section below