Top headlines this week: HSBC raises interest rates while cutting costs for Halifax and BM and The Financial Conduct Authority (FCA) stresses the need for disclaimers on AI-generated financial advice.
Explore these and other key industry updates below:
Stamp duty reform tops the industry’s Autumn Budget wish list
Stamp duty reform is high on the mortgage industry’s Autumn Budget wish list, along with more details on the First Home Scheme and the 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.
Landlords also welcomed the announced decision not to raise capital gains tax, although concerns remain about wider pressures on the private rented sector.
HSBC raises interest rates while cutting costs for Halifax and BM
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 conveyancing and first-time buyer rates by up to 9 basis points, while rates set by BM Solutions will fall by up to 18 basis points.
Average two- and five-year fixed interest rates remain broadly stable at just under 6%.
The Financial Conduct Authority (FCA) stresses the need for disclaimers on AI-generated financial advice
The FCA is urging AI platforms such as ChatGPT, Gemini and Cloud to provide clear and consistent disclaimers explaining the limitations of AI-generated financial information and advice.
While the regulator recognizes the potential of AI to improve efficiency, reduce costs and personalize services, it stresses that companies must maintain strong safeguards, accountability and consumer protection under the Consumer Duty.
The Chancellor rules out a CGT increase in the budget
The Chancellor has reportedly ruled out a rise in capital gains tax in the Autumn Budget, which could save landlords up to £15,633 in extra 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 points out that previous increases in CGT have failed to boost revenues as taxpayers change their behaviour.
Mortgage rates put pressure on house prices: Rightmove
Rightmove says rising mortgage rates are putting pressure on asking prices in the most affordable parts of Britain, with prices falling in four of the five least expensive areas despite a 1% national monthly increase.
Agreed sales were down 8% year-on-year, and buyer inquiries were down 9%, as higher borrowing costs and budget uncertainty weighed on confidence, prompting sellers to price competitively.
Halifax opens Club Lloyds mortgage discounts for brokers
Halifax is launching its Loyalty Club discounted mortgage range through brokers, allowing eligible Club Lloyds customers to access the same rates as direct applicants, with no minimum income required.
The products cover first-time buyers and home movers, including new and affordable home purchases, but exclude remortgages, step-ins and move-in products.
Finalists announced for the 2026 Mortgage Innovation & Technology Awards
Mortgage Strategy has announced the finalists for its 2026 Mortgage Innovation & Technology Awards, which honor companies, teams and individuals driving innovation across the mortgage and technology sectors.
Winners will be announced online ahead of the MIT Live ceremony on 13 October at County Hall in London, where they can collect their awards and celebrate their achievements with the wider industry.
UK house price growth slows for fourth month in a row: Office for National Statistics
UK house price growth slowed for the fourth month in a row, with average prices rising 0.9% a year to £273,000 in August 2026, according to provisional ONS figures.
London prices fell by 2.2%, largely due to lower constant values, while Wales, Scotland and Northern Ireland recorded stronger growth. Meanwhile, private rents rose 3.8% in the year to September.
Barclays cuts 5,000 jobs as it increases its use of artificial intelligence
Barclays is set to cut around 5,000 jobs this year as it uses technology and artificial intelligence to cut costs, with nearly 60% of the cuts expected to affect support jobs.
The announcement came as the bank reported a 12% rise in third-quarter pre-tax profits to £2.3bn and an £8.8bn increase in UK loans and advances, driven largely by mortgage growth, along with a further £500m share buyback.
The value of buy-to-let loans in the UK rose by 25% to £10.7 billion, according to a UK Finance report.
Buy-to-let lending in the UK rose 25% year-on-year to £10.7bn in the second quarter of 2026, with 58,051 new loans made, according to UK Finance.
Average rental yields remained stable at 7.27%, while arrears and repossession decreased; Remortgages accounted for about three-quarters of completed BTL loans as landlords prepared for fixed-rate deals to mature.
