More than 300,000 mortgage borrowers have reduced their monthly payments since the government’s Mortgage Charter was introduced, according to the latest data published by the Financial Conduct Authority (FCA).

The figures, covering the period from July 2023 to December 2025, show that monthly payments on around 311,000 mortgages were reduced after borrowers temporarily switched to interest-only payments or extended their mortgage term.

The Charter, introduced in June 2023, sets out a series of commitments from lenders aimed at supporting borrowers experiencing financial pressure. A total of 49 lenders have signed up, representing around 90% of the UK mortgage market.

In the latest two-month reporting period, from November to December 2025, around 13,000 mortgages saw monthly payments reduced through either a temporary switch to interest-only or a term extension.

Across the same period, around 232,000 mortgages were locked into a new deal up to six months ahead of the end of an existing fixed-rate term. A further 48,000 borrowers who had locked into a deal later switched to an alternative product before the new rate began.

FCA RULE CHANGES ENABLED TEMPORARY PAYMENT RELIEF

The regulator said around 214,000 mortgages have temporarily reduced monthly payments using rules introduced alongside the Charter.

These changes allow borrowers who are up to date with their payments to switch to interest-only payments for up to six months, or extend their mortgage term, without undergoing a new affordability assessment.

Under existing FCA rules, these options were available but typically required lenders to reassess affordability before approving them.

Borrowers who extend their mortgage term are also able to revert to the original term within six months.

The data suggests relatively few customers have used this option, with only 1,584 term extensions reversed since the Charter was introduced. This may indicate that borrowers seeking temporary relief are more likely to opt for a short-term switch to interest-only payments.

EARLY DEAL LOCK-INS REMAIN WIDELY USED

The Charter also allows borrowers to secure a new mortgage deal up to six months before their current fixed rate expires, with the ability to move to a better like-for-like product if one becomes available before the new deal starts.

The FCA noted that some lenders may have already offered early rate lock-ins before the Charter was introduced, meaning not all activity recorded under this measure is necessarily new support provided as a result of the agreement.

Because the data is supplied by lenders to the best of their ability rather than through standard regulatory reporting, the regulator also cautioned that figures may not be fully comparable across firms.

REPOSSESSIONS REMAIN LOW

The data also shows that 317 properties were repossessed within 12 months of the borrower missing their first payment.

According to firms, these cases were driven by customer circumstances, such as voluntary repossessions or situations where properties had been abandoned or left vacant.

The FCA collects the data monthly from Charter signatories, although it notes that the figures represent the flow of support provided during each period rather than the total number of borrowers currently using these options.

Because some borrowers may have used more than one form of support, the regulator said it is difficult to estimate the total number of mortgages that have taken up Charter measures.

Due to changes in the data collection methodology, the latest publication only includes updated figures for November and December 2025. Data for January 2026 will be included in the next release.