Fleet Mortgages withdrew every fixed rate product from sale on 23 March 2026, giving brokers just hours of notice. If you were mid-application with Fleet, your deal has gone.
What Fleet Pulled and What Stays
Fleet confirmed the withdrawal covers all fixed rate products, including product transfers (where existing borrowers switch to a new deal with the same lender) (Mortgage Finance Gazette, 23 March 2026). Tracker products remain unchanged.
The lender's statement read: "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" (Mortgage Finance Gazette, 23 March 2026).
Fleet said it intends to "release a new range of Fixed Rate products as soon as possible," but gave no specific relaunch date (Mortgage Finance Gazette, 23 March 2026). That means borrowers waiting on Fleet are in limbo.
What This Means for Your Monthly Payment
Fleet is not alone. Coventry pulled all new business products for residential and buy-to-let (BTL) lending on 22 March 2026, according to Mortgage Finance Gazette. When lenders withdraw products, they typically relaunch at higher rates. That pushes your monthly cost up.
Run the numbers on your current deal. If you have a fixed rate expiring in the next three to six months, the window to lock in is narrowing. Every lender that pulls products adds pressure to the ones still lending.
You may wish to speak to your broker now rather than waiting for Fleet's relaunch. The replacement rates are unlikely to be cheaper.
