Skip to content
LIVE DATA
SLI new business £205.0m ▲2.0%Bank Rate 3.75% — 0bp2yr fix 5.13% ▲21bp
Sunday, 1 November 2026
Get The Brief — free
Lending
Intelligence
Edition 03News, data and plain-English analysis for brokers, introducers and lenders.
Rates · Analysis

The remortgage gap is widening as second-charge lending grows

Fixed-rate pricing has pulled away from Bank Rate this year while second-charge volumes kept climbing. Brokers should be setting the options side by side.

By The Editor · 12 October 2026 · 3 min read
Quoted 2-year fixed vs Bank Rate, %Sep 2025 – Sep 2026 · Bank of England
3.54.04.55.05.5SEP 25JAN 26SEP 26MARJUNBANK RATE 3.754.193.935.13First-charge, 75% LTV; monthly averages. Second-charge pricing isn't included.
The newsQuoted 2-year fixes are 94 basis points dearer than a year ago; second-charge volumes are up 25% over 12 months.
Why it mattersRemortgaging a whole balance to raise funds now costs more than it did a year ago, so the comparison with a second charge has shifted.
What's nextFLA August data due; MPC decision 5 November.
The number+21%Growth in second-charge lending by value, January to July, against the same months of 2025. About £1.4bn in all.
Complaints · DataSecond-charge complaints upheld more often than any other mortgageOnly 124 new complaints reached the ombudsman in the quarter, so the rate can swing sharply from one quarter to the next.16 OCT 2026The View“Every adviser should be showing clients the cost of a whole-balance remortgage beside a second charge.”The Editor · Opinion
Second chargeAverage second-charge loan falls to £52,300, its lowest this year
BridgingBridging completions fall to £1.6bn as regulated deals rise to 48%
Later lifeCP26/18: what the FCA proposes for bridging loans and RIO mortgages
RegulationRegulators drop the per-lender cap on high loan-to-income mortgages from 28 October

Data desk

Attributed, never adjusted · Methodology · Download CSV
Latest figures, change, period and source for each series
SeriesLatestChangePeriodSource
Second-charge new business£205.0m+2.0% y/yJul 2026 (prov.)FLA
New agreements3,919+1.4% y/yJul 2026 (prov.)FLA
Bank Rate3.75%0bp m/mSep 2026Bank of England
2-year fixed, 75% LTV5.13%+21bp m/mSep 2026Bank of England
5-year fixed, 75% LTV4.98%+20bp m/mSep 2026Bank of England
SONIA3.73%0bp m/mSep 2026Bank of England
5-year gilt yield4.92%+33bp m/mSep 2026Bank of England

Explained

01CP26/18: what the FCA proposes for bridging loans and RIO mortgages02How the main CeMAP study options compare on price, mocks and support03How the main DipFA study options compare on price, mocks and support

Diary

DUEFLA second-charge, August data
5 NOVMPC Bank Rate decision
6 NOVBoE quoted rates, October
12 NOVUK Finance arrears and possessions, Q3 2026
Add the diary to your calendar →

The Brief

Every Thursday, free: the numbers, rate moves, lender changes and one explainer — in five minutes.

Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.