This week’s top headlines: FCA chief flags up ‘structural challenges’ to homeownership and OSB Group launches specialist BTL lender Rely
Explore these and other major industry updates below:
FCA chief flags up ‘structural challenges’ to homeownership
The FCA’s chief executive, Nikhil Rathi, warned that significant structural barriers to homeownership persist, particularly for people without large deposits, stable incomes or family support, and for those with minor credit issues.
Speaking at the L&G Mortgage Club conference, he said these challenges risk forcing more people to rent for longer, potentially into retirement, increasing the financial burden they face.
Rathi signalled that the FCA’s mortgage review will look beyond today’s market to future models, including interest-only options and ways to unlock housing wealth more effectively to support living standards later in life.
OSB Group launches specialist BTL lender Rely
OSB Group has launched Rely, a new specialist buy-to-let lender built on a streamlined, data-driven platform developed with input from hundreds of brokers.
Aimed at all types of landlords, Rely offers quicker registration, integrated technology and expert support for complex cases. Its launch allows Precise to concentrate on residential and bridging lending, with Precise’s BTL products and the Kent Reliance for Intermediaries brand being withdrawn for new business.
OSB says the move supports its strategy of expanding into higher-yielding segments, following growth in loan originations and its overall loan book.
Halifax and BM cut rates, while Accord reprices both ways
Halifax and BM Solutions have reduced a range of mortgage rates today, with Halifax cutting selected home-mover and first-time buyer products by up to 10bps, while BM Solutions has lowered buy-to-let and let-to-buy rates by as much as 29bps, including reductions for limited companies.
Accord will adjust its rates tomorrow, raising prices on residential purchase deals at 75–85% LTV by up to 10bps, but trimming rates at 90–95% LTV and on its £5k Deposit Mortgage by 5bps, with remortgage and tracker products unchanged.
Barclays to cut rates by up to 21bps tomorrow
Barclays will cut a wide range of mortgage rates tomorrow, with reductions of up to 21bps across purchase, remortgage and existing-customer products.
Notable changes include lower pricing on 85% LTV purchase fixes, significant drops on 75% LTV remortgage deals — including a 21bps cut to the Great Escape two-year fix — and further reductions within its Reward range for existing borrowers.
Principality, TSB and HSBC announce rate reductions
Principality Intermediaries has reduced rates across its residential, joint borrower sole proprietor and holiday let ranges, with cuts generally between 0.06% and 0.13%.
TSB has also lowered pricing on a broad mix of residential, buy-to-let, product transfer and additional borrowing products, with reductions of up to 0.25%. HSBC has likewise confirmed forthcoming reductions to its residential and buy-to-let rates.
Taylor Wimpey urges government to support first-time buyers
Taylor Wimpey has called on the government to provide stronger support for first-time buyers as it grapples with a slowing housing market, citing uncertainty ahead of the Budget and ongoing affordability pressures.
Chief executive Jennie Daly said that while planning reforms are welcome, boosting demand — particularly among constrained first-time buyers — is essential to unlocking the UK’s housing ambitions. The firm expects to complete 10,400–10,800 homes in 2025 and remains on track to deliver £424m in annual operating profit.
Meanwhile, housing secretary Steve Reed said the government is still confident of building 1.5 million homes this parliament and is considering new towns to help meet demand.
NatWest launches shared ownership mortgages
NatWest has introduced shared ownership mortgages, allowing buyers to purchase as little as a 25% share of a home and increase their stake over time, with products available through brokers for both purchases and remortgages.
The bank has also eased lending criteria, offering up to 90% LTV on new-build flats, 95% on new-build houses, and higher LTV limits on interest-only loans, subject to income thresholds.
NatWest says the changes, alongside its recent Family Backed Mortgage, aim to widen access to homeownership and give customers more flexible routes onto the property ladder.
OSB’s founding chief executive to retire after 14 years at bank
OSB Group has announced that long-serving chief executive Andy Golding plans to retire by the end of 2026, with a formal search for his successor now underway.
Golding, who has led the bank for 14 years through major milestones including its IPO and subsequent mergers, will remain in post while overseeing the group’s strategic objectives for 2025 and 2026.
The board praised his role in transforming OSB into the UK’s leading specialist lender, delivering substantial growth and shareholder returns.
Aldermore to lend up to 6x income on residential mortgages
Aldermore has raised its residential mortgage loan-to-income limits, allowing borrowers with household incomes over £60,000 to borrow up to 6x income under 80% LTV, while lower-income borrowers can access between 4.49x and 5.5x depending on LTV.
The lender has also launched new limited-edition fee-free residential products, including two-year fixed rates up to 95% LTV. Aldermore says the changes aim to help more customers secure homes and provide brokers with enhanced options, following similar moves from HSBC, which offers up to 6.5x income for higher earners.
Santander to allow brokers to accept PT offers on behalf of clients
From 17 November, Santander will allow brokers to accept product transfer offers on behalf of clients, requiring a new broker declaration confirming client permission and provision of relevant documentation.
Brokers will receive notification emails instead of clients. Santander is also cutting residential fixed rates by up to 0.14% across new business and product transfer ranges, including first-time buyer and remortgage products, and introducing new five-year fixed large loan remortgage products from £500k.
Rate reductions also apply to home mover, new-build, and product transfer mortgages.
