Your buyer has agreed a price, instructed a solicitor and says the mortgage is sorted. But the average mortgage deal now lasts just 13 days. Here is what that means for your sale, and why a buyer who needs a lender is the weakest link in it.

The number nobody mentions: 13 days

Moneyfacts, which tracks the whole mortgage market, reports that the average mortgage product is now available for just 13 days in October, down from 14 in September. In April, after the Middle East conflict hit markets, it fell to a record low of 8 days. The average so far in 2026 is 15 days. In 2019 it was 43.

Moneyfacts says the cause is volatile swap rates, which set lenders’ funding costs. Whenever rumours of escalation or reconciliation move those rates, lenders reprice or pull deals, and it describes the sustained instability as a significant step change beyond the pandemic or the 2022 mini-Budget. This is not a blip you can wait out.

What that does to a sale you have already agreed

A buyer who agreed your price in the first week of October was probably budgeting on a specific deal. If it is withdrawn before they apply, they reprice. If the new rate stretches their affordability, one of three things happens: they ask you to drop the price, they scramble for another lender, or they walk away.

Many buyers have very little room. Hamptons found that in September, 56% of first-time buyers took on a monthly mortgage payment higher than their previous rent, the largest share in at least a decade. Those stretched buyers averaged a 91% loan-to-value, which means a 9% deposit. A small move in rates can be enough to break their numbers.

And until contracts are exchanged, nothing is legally binding on either side. A sale marked as agreed is a promise, not a guarantee.

The fall-through figures

TwentyEA’s third-quarter figures, published on 19 October, show that 22.9% of concluded listings in 2026 had at least one fall-through. That is slightly better than last year, with fall-through volumes down 9.5%, but it still means more than one in five properties lost a buyer on the way to a sale. The same data shows 38.5% needed at least one price reduction. Rightmove reports that sales agreed are 8% lower than a year ago, so a buyer you lose is harder to replace.

How to protect yourself if you are selling the traditional way

Ask what stage the buyer’s mortgage is at

A decision in principle is not a mortgage offer. Ask whether a full application has gone in, whether a valuation has been done and whether an offer has been issued. Ask the buyer’s broker whether the rate has been secured, because lenders’ rules differ.

Find out who else is in the chain

If your buyer is selling too, their buyer also needs a mortgage in a market where deals disappear in a fortnight. Each link adds risk. Ask your agent to tell you, in writing, who is in the chain.

Keep your options open

Ask your agent to keep the property visible for back-up offers, and make sure your solicitor is instructed and has your paperwork ready, so that you are never the slowest link.

The alternative: a buyer with no lender

A genuine cash buyer takes the lender out of the equation. There is no product to be withdrawn, no mortgage valuation to come in low and no affordability test. That is why completions can happen in days or weeks rather than months.

The trade-off is simple and we will not dress it up: cash offers are usually below the price an open-market buyer might pay, because you are paying for speed and certainty. For sellers facing repossession, a divorce deadline, a short lease or a tenanted property they cannot manage, that trade is often worth making. For a seller who can wait and has a standard home, it may not be. Compare both honestly before you decide.

Whichever route you choose, check that any cash buyer can show proof of funds, use your own solicitor, and never pay fees upfront.

Three things to do this week

First, ask your agent in writing where your buyer’s mortgage stands. Second, work out the lowest price and the latest date you can accept, so a renegotiation does not catch you out. Third, get a cash offer in your hand as a benchmark. It costs nothing, it takes a day, and it tells you what certainty is worth.

Sources: Moneyfacts mortgage shelf-life data and Adam French, reported by Estate Agent Today (20 October 2026); Hamptons analysis using Connells Group data, reported by Estate Agent Today (19 October 2026); TwentyEA Q3 2026 data, reported by Estate Agent Today (19 October 2026); Rightmove House Price Index, October 2026.

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Frequently Asked Questions

How long does a mortgage deal last now?
Moneyfacts reports that the average mortgage product lasted 13 days in October 2026, down from 14 in September. The record low was 8 days in April 2026. This measures how long deals stay on the market, not how long a mortgage offer is valid once issued.
Can a buyer’s mortgage deal disappear after I have agreed a sale?
Yes. If the buyer has not yet secured a rate, the deal they planned on can be withdrawn. They may then have to reprice, which can lead to a lower offer, a switch of lender or a collapsed sale. Nothing is legally binding until exchange of contracts.
How do I reduce the risk of a sale falling through?
Ask whether the buyer has a full mortgage offer, not just a decision in principle, find out who else is in the chain, keep your solicitor ready and set your lowest acceptable price in advance.
Does a cash buyer need a mortgage?
No. A genuine cash buyer uses their own funds, so there is no lender valuation or affordability check to delay or derail the sale. Cash offers are usually below open-market value, in return for speed and certainty.