The number of borrowers who locked into a new deal up to six months before their previous deal matured jumped by 43% in the latest set of data from the FCA.
Data collected by the regulator on uptake of the voluntary Mortgage Charter show that 489,000 borrowers locked into a deal early in three months from May to July, up from 341,000 in the three months from February to April.
But as mortgage rates fluctuated during this period, there was a doubling in the number of borrowers who subsequently locked into a different deal, from 52,000 in the February-April period to 104,000 in May-July.
Other commitments from lenders under the Mortgage Charter, which was introduced in June 2023 include extra measures to help borrowers in financial difficulty.
Around 191,000 mortgages have temporarily reduced monthly payments via the new FCA rules.
Between July 2023 and July 2025, monthly payments on around 278,000 mortgages were reduced as people switched to temporarily paying interest-only or extended their mortgage term.
This amounts for around 3.1% of all regulated mortgages.
The data shows that only 1,179 term extensions were reversed, which could indicate that borrowers seeking a temporary reduction in their payments are more likely to opt for an interest-only period, the FCA says.
One of the mortgage charter commitments was that lenders would not force borrowers to leave their home in less than a year from missing a payment, apart from in exceptional circumstances.
FCA figures show that 254 properties were repossessed within 12 months of missing the first payment since the Charter launched.
