About 280,000 mortgages are locked up in a new deal up to six months before the due date in the three months to January, according to data from the recording data of the Mortgage Charter.
This compares with around 377,000 mortgages in the previous three months, according to the figures compiled by the Financial Conduct Authority.
Moreover, the number of mortgages that, after locking a new deal, then decreased to six months before the due date, then locked up in an alternative deal from around 102,000 in August to October to 27,000 in the three months to January.
Data also showed that around 164,000 mortgages have temporarily reduced the monthly payments as part of the new rules of the FCA.
The monthly payments at around 236,000 mortgages were reduced between July 2023 and January of this year when people switched to temporarily only pay interest or extend their mortgage site.
This figure represents 2.7% of the regulated mortgage contracts.
Data also shows that only 744 term extensions are reversed, which according to the FCA could indicate that borrowers who are looking for a temporary reduction in payments are more likely to choose only an interest.
In the three months to January, 186 properties were taken back within 12 months of missing the first payment.
Companies report that these were for customer -controlled reasons, for example voluntary assets or abandoned/empty properties.