The government published an updated Mortgage Charter on 26 March 2026 after mortgage lenders reaffirmed their support. The FCA’s September 2026 uptake report continued to describe its operation. Borrowers should use those current official publications rather than assume that older speculation about the Charter represents today’s position.
The Mortgage Charter is a set of voluntary commitments made by participating lenders for regulated residential mortgages. The FCA said in September 2026 that 47 signatories represented about 90% of the mortgage market. The pledge is not a blanket statutory guarantee for every borrower or every type of loan, and it does not remove the lender’s or borrower’s obligations under the mortgage contract. Buy-to-let mortgages are outside the Charter’s stated scope.
For signatory lenders, the commitment is not to repossess a home within 12 months of a borrower’s first missed payment without the borrower’s consent, except in exceptional circumstances. The FCA reported that 376 properties were repossessed within that period between July 2023 and June 2026. The regulator cautions that the underlying signatory data is collected on a best-efforts basis and may not be fully consistent, so the figure needs that qualification.
The Charter also offers specific temporary options to eligible borrowers who are up to date with payments. These include, on a one-off basis, switching to interest-only payments for up to six months or extending the mortgage term, with an option to revert within six months. Lenders may offer these without a new affordability check, but the arrangement can increase total interest or later monthly payments. Borrowers should confirm details directly with their lender; availability and terms depend on the lender and circumstances.
Separate FCA rules remain important. The regulator’s MCOB 13 framework requires firms to deal fairly with customers who have or may have payment difficulties, consider suitable support, and not take repossession action unless other reasonable attempts to resolve the position have failed. Those requirements are distinct from the Charter’s additional signatory commitments.
If mortgage payments are becoming difficult, contact the lender promptly and ask what support is available. The Charter does not mean a borrower should wait to seek help. This article explains general policy only and is not legal, mortgage or financial advice; individual cases may need independent professional guidance.
Sources: HM Treasury Mortgage Charter 2026; FCA Mortgage Charter uptake data, September 2026; FCA Handbook MCOB 13.