This week’s top headlines: HSBC to raise rates as Halifax and BM trim costs and FCA stresses need for disclaimers on AI-generated financial advice.
Explore these and other major industry updates below:
Stamp duty reform top of industry’s Autumn Budget wish list
Stamp duty reform is topping the mortgage industry’s Autumn Budget wish list, alongside further details of the Your First Home scheme and proposed First Time Buyer ISA.
Industry figures are calling for measures to encourage first-time buyers, help older homeowners downsize and boost housing market activity, while stressing the need to increase housing supply and maintain economic stability.
The reported decision not to raise capital gains tax has also been welcomed by landlords, although concerns remain about wider pressures on the private rented sector.
HSBC to raise rates as Halifax and BM trim costs
HSBC and Precise are preparing to increase mortgage rates, while Halifax and BM Solutions are cutting selected residential and buy-to-let deals.
Halifax will reduce some home mover and first-time buyer rates by up to 9 basis points, while BM Solutions’ selected rates will fall by up to 18bps.
Average two and five-year fixed rates remain broadly stable just below 6%.
FCA stresses need for disclaimers on AI-generated financial advice
The FCA is urging AI platforms such as ChatGPT, Gemini and Claude to introduce clear, consistent disclaimers explaining the limitations of AI-generated financial information and advice.
While the regulator recognises AI’s potential to improve efficiency, reduce costs and personalise services, it stresses that firms must maintain strong safeguards, accountability and consumer protections under Consumer Duty.
Chancellor rules out CGT rise in Budget
The chancellor has reportedly ruled out raising capital gains tax in the Autumn Budget, potentially sparing landlords up to £15,633 in additional tax when selling investment properties.
The decision has been welcomed by industry figures, who warn that wider pressures continue to undermine landlord confidence, while AJ Bell suggests previous CGT increases have failed to boost revenue as taxpayers changed their behaviour.
Mortgage rates put pressure on house prices: Rightmove
Rightmove says rising mortgage rates are putting pressure on asking prices in more affordable parts of Britain, with prices falling in four of the five lowest-priced regions despite a 1% national monthly increase.
Sales agreed were down 8% year on year and buyer enquiries fell 9%, as higher borrowing costs and Budget uncertainty weigh on confidence, prompting sellers to price competitively.
Halifax opens Club Lloyds mortgage discounts to brokers
Halifax is launching its discounted Loyalty Club mortgage range through brokers, allowing eligible Club Lloyds customers to access the same rates as those applying directly, with no minimum income requirement.
The products cover first-time buyers and home movers, including new-build and affordable housing purchases, but exclude remortgages, further advances and product transfers.
Mortgage Innovation & Technology Awards 2026 finalists announced
Mortgage Strategy has announced the finalists for the 2026 Mortgage Innovation & Technology Awards, recognising businesses, teams and individuals driving innovation across the mortgage and technology sectors.
Winners will be announced online ahead of MIT Live on 13 October at County Hall in London, where they can collect their trophies and celebrate their achievements with the wider industry.
UK house price growth slows for fourth consecutive month: ONS
UK house price growth slowed for the fourth consecutive month, with average prices rising 0.9% annually to £273,000 in August 2026, according to provisional ONS figures.
London prices fell 2.2%, largely due to declining flat values, while Wales, Scotland and Northern Ireland recorded stronger growth; meanwhile, private rents increased by 3.8% in the year to September.
Barclays to cut 5,000 jobs as its use of AI increases
Barclays is set to cut around 5,000 jobs this year as it uses technology and AI to reduce costs, with approximately 60% of the reductions expected to affect support functions.
The announcement came as the bank reported a 12% rise in third-quarter pre-tax profit to £2.3bn and an £8.8bn increase in UK loans and advances, largely driven by mortgage growth, alongside a further £500m share buyback.
UK buy-to-let lending rises 25% in value to £10.7bn, says UK Finance
UK buy-to-let lending rose 25% in value year on year to £10.7bn in the second quarter of 2026, with 58,051 new loans advanced, according to UK Finance.
Average rental yields remained stable at 7.27%, while arrears and property repossessions fell; remortgaging accounted for around three quarters of completed BTL loans as landlords prepared for maturing fixed-rate deals.
