Development Exit and Refinance Monitor: Q3 2026 Review (Provisional)

Provisional. Lenders have 21 days to file a charge at Companies House, and this edition uses the company snapshot of 1 October 2026, so charges created late in Q3 2026 and filed afterwards are not yet counted. Figures for the final weeks of the period will rise when the next snapshot is applied, and a final edition will follow at a new address; this page will not be revised in place.

Tracking pairs of charges registered against the same property title, the Monitor identified 405 refinance events in Q3 2026: cases where an unrelated senior lender's charge was satisfied at or near the registration of a successor facility. This is the fingerprint of the development exit and refinance market, developments moving from build facilities to exit bridges, term debt or sales-period funding.

Quarterly: 405 in Q3 2026. Related-party successions (a lender's own trustee or group vehicle) are excluded.

The series has moved a long way since Q2 2023, the first quarter the Monitor tracks, when it counted 186 refinance events; Q3 2026 counted 405 (+117.7%). The last four quarters ran 362 in Q4 2025, 408 in Q1 2026, 405 in Q2 2026, 405 in Q3 2026. Q3 2026 at 405 was level with Q2 2026 (405). These figures are provisional: charges created late in Q3 2026 are still being filed, so the latest quarter will rise. These are counts of a floor: only charges registered at Companies House are visible, so positions secured by unregistered instruments, by share charges alone or against individual borrowers are not counted.

The redemption data in the national Monitor sits alongside this: the share of specialist development facilities redeemed within 18 months was 24.9% for the 2024 cohort against 16.1% for 2019, although the path between was uneven.

Built from every mortgage and charge registered at Companies House against a curated set of development-active lenders, with identities resolved through funding-line vehicles and security trustees. Charge data runs to 2026-10-02; satisfaction filings to 2026-10-03. Companies House filings record no loan values (a 2013 reform removed the amount-secured field), so activity is measured in charge registrations and distinct borrower counts, never estimated loan books. No lender is named or ranked. Full methodology, definitions and revision policy: Monitor methodology.

Layered and refinanced structures are where lender appetite differs most: pricing, leverage and the willingness to sit behind another lender all vary widely, which is exactly where whole-of-market advice earns its keep.

Construction Capital arranges development finance, bridging and development exit facilities across the lenders behind these numbers. To discuss a scheme, call +44 20 3816 3693 or start with the deal room.