Top headlines this week: Skipton BS cuts prices and expands range and HMRC’s tax revenue was £391.6 billion
Explore these and other key industry updates below:
Skipton BS cuts prices and expands range
Skipton Building Society will cut interest rates across the entire fixed mortgage range by an average of 0.15% from September 25, alongside new three-year fixes at 90% of LTV within the LTI Booster range.
It has also expanded deferred mortgages to include home operators, allowing eligible borrowers to defer their first mortgage payment for up to three months, while loan-to-value rates have also been reduced by 95%.
Barclays, Halifax and BM raise interest rates by up to 30 basis points
Barclays, Halifax and BM Solutions are raising mortgage rates, with Barclays increasing select deals by up to 30 basis points, including a 10-year lock-in at 60% LTV rising from 5.12% to 5.42%, while BM Solutions will raise BTL rates by up to 25 basis points.
Halifax is increasing set purchase rates by up to 11 basis points, remortgage and transfer products and additional advance rates by up to 10 basis points, as lenders continue to reprice amid rising mortgage financing costs.
The British Ministry of Finance warns the Minister of Finance that the bank arbitrage tax may lead to higher mortgage rates
The UK Treasury has warned that further increases in bank taxes could raise mortgage costs and reduce banks’ ability to lend and invest, while making the UK less attractive to international banks.
Ahead of the October budget, it called for stable tax arrangements and a long-term plan to boost the competitiveness of the financial sector, along with measures to support first-time buyers, housing construction, speeding up real estate transactions, and energy efficiency in homes.
Just Mortgages appoints McLaren as director for the Midlands region
Just Mortgages has appointed Gina McLaren as Regional Director for its Self-Employed division in the Midlands, bringing nearly 20 years of industry experience to the role.
Based in Leicestershire, McLaren will support advisor development and business growth while assisting with training, marketing, recruitment and expanding the network of self-employed advisors.
TSB to raise interest rates further by up to 25 basis points
TSB is raising select product carry and additional borrowing rates by up to 25 basis points for residential customers and 20 basis points for BTL customers from tomorrow, while Kensington is also increasing BTL rates.
The moves come after a week of widespread repricing by lenders, with the average five-year fixed rate hitting its highest level since October 2023, and the average two-year fixed rate rising by 17 basis points during the week.
Second charge monitoring: FCA lens is nothing to be afraid of
The FCA’s increased scrutiny of the second mortgage market highlights the need for advisers to properly assess affordability, understand why debt is accumulating and consider alternatives before recommending consolidation.
However, the article notes that second-payment debt consolidation can still be appropriate for some clients, particularly when it reduces monthly expenses without disrupting the preferred mortgage, provided advisors clearly explain the long-term costs and risks.
HSBC and Clydesdale to raise prices
HSBC and Clydesdale are both raising mortgage interest rates, following increases from major lenders including Barclays, Halifax and TSB.
Clydesdale will increase residential product transfer rates by up to 19 basis points and BTL rates by up to 38 basis points, while HSBC’s changes are expected to impact a wide range of residential, BTL, purchase and remortgage products, with brokers expecting to withdraw some of the below 5% fixes.
HMRC’s tax revenue was £391.6 billion
HMRC collected £391.6 billion in tax and NID receipts between April and August 2026, £24.9 billion more than in the same period last year, when PAYE income tax and NID receipts were £214 billion.
CGT revenues rose slightly to £198m in August but remain below last year’s total for the financial year to date, while IHT revenues increased by £0.1bn to £3.8bn, sparking warnings that changes in tax rates could influence taxpayer behavior and that rising property values increase exposure to IHT.
The FCA will work with AMI and others to address the protection gap
The FCA is working with the Mortgage Brokers Association and other industry groups to address the protection gap, with around 58% of adults currently having no major life, critical illness or income protection policies.
The initiative will focus on improving advisors’ conversations with clients, raising consumer awareness and addressing barriers for groups including renters, the self-employed, low-income families and people with pre-existing medical conditions.
The Acre platform has been rebranded as Score
Acre was rebranded as Score following its acquisition by ClearScore, marking the next stage of mortgage CRM development and ClearScore’s expansion into mortgages.
Score plans to accelerate its technology roadmap, including AI-powered features and integration with ClearScore Home Lending, while reporting record monthly mortgage applications and revenue growth of more than 2.5x.
