Top headlines this week: YBS cuts interest rates by up to 0.50% And aThe average household disposable income rises to £39,200.
Explore these and other key industry updates below:
YBS cuts interest rates by up to 0.50%
Yorkshire Building Society has cut mortgage rates across its range, with reductions of up to 0.50% on five-year fixes for homebuyers with a 5% deposit and reductions for remortgages.
Highlights include a five-year lock-in at 95% Loan-to-Value (LTV) reduced to 5.79%, a five-year lock-in at 75% Loan-to-Value (LTV) reduced to 4.97%, and a free two-year lock-in at 80% Loan-to-Value (LTV) reduced to 5.34%. Eligible members can also benefit from £250 cashback.
Stonebridge and HLP are among the fastest-growing mortgage networks as a merger approaches
Stonebridge Mortgage Solutions and HL Partnership are among the UK’s fastest-growing mortgage networks in 2026, adding 43 and 34 designated representative firms respectively, according to Network Consulting’s latest league table.
The parent companies are set to consolidate through BetterHome Group’s proposed acquisition of mortgage support services, while other networks recorded declines in corporate numbers.
Network Consulting warns that growth alone does not indicate performance, highlighting the importance of factors such as compliance, technology, costs and advisor support.
TSB and Coventry make further price increases
TSB and Coventry Building Society are increasing capped or fixed mortgage rates for residential and buy-to-let borrowers, while Accord is reducing some new residential business rates by 0.10%.
Shawbrook is also set to reprice several commercial and purchase lending products, although details have not been disclosed.
The changes come as Moneyfacts reported that the average five-year fixed rate on a mortgage has reached 6%, with the average two-year interest rate close behind.
Average household disposable income rises to £39,200: Office for National Statistics
Average household disposable income in the UK rose by 3.5% to £39,200 in 2025, according to the Office for National Statistics, with income rising by 5.6% among the poorest fifth of households and 5% among the richest fifth.
Income inequality remained broadly stable, falling by 0.2 percentage points to 32.7%, although the richest fifth still earned 5.6 times the income of the poorest fifth.
The ONS warned that a smaller survey sample means the latest estimates are subject to greater uncertainty.
UK housebuilding remains under pressure with residential homes down 33%
Residential construction in the UK remains weak, with the value of projects started in the three months to September 2026 falling by 8% quarter-on-quarter and 33% year-on-year, according to Glenigan.
Social housing starts fell by 33% during the quarter, while private housing starts rose by 4% but remained well below last year’s levels.
High borrowing costs and economic uncertainty are holding developers back, with increased government support and clarity on the upcoming budget needed to help revive housebuilding, says Glenigan.
Five-Year Consistent Traffic Average 6%: Financial Facts
The average interest rate on a five-year fixed mortgage was 6%, while the average two-year fixed rate was 5.98%, the highest in about three years, according to Moneyfacts.
The number of fixed-rate deals priced at less than 5% has fallen by 99% since the start of September, from 1,494 to just nine, following repeated interest rate hikes by major lenders amid swap rate volatility.
Moneyfacts advises borrowers who are approaching the end of their current fixed deal to seek advice and compare options early, as they may be able to secure a new deal several months before expiry.
Shawbrook is reducing its buy-to-let rates as the organization withdraws 90% of its LTV products
Shawbrook has reduced select buy-to-let mortgage rates by up to 0.25 percentage points for loans between £250,000 and £1 million, while making other adjustments across its product range.
Meanwhile, the Home Loan Corporation will withdraw its 90% LTV housing products on October 7, replacing them with lower rates the next day, with brokers required to meet strict deadlines for submitting decisions in principle and full applications.
These changes come as average fixed residential mortgage rates remain high, with the five-year average at 6%, according to Moneyfacts.
The cost of moving house now is £17,413: Real moving
The average cost of moving house in England was £17,413, according to Real Moving, down 2.3% on last year but 74% higher than a decade ago after adjusting for inflation.
Lower property prices and removal costs helped offset higher conveyancing fees, while stamp duty remained the largest expense, averaging £9,500.
Costs vary widely by region, with an average of £32,017 in London compared to £11,110 in the North East, North West and Yorkshire and Humber.
Average UK room rent is £769 per month: SpareRoom
Average room rent in the UK reached a record high of £769 per month in the third quarter of 2026, up 1% year-on-year, while the number of rooms advertised fell by 4.7%, according to SpareRoom.
Rents hit record levels in seven of the nine English regions, with Greater London remaining the most expensive at £932 a month, while Northern Ireland recorded its strongest annual increase of 7%.
SpareRoom warns that rising rents and shrinking supply are increasing pressures on tenants, highlighting the need for additional measures to improve affordability.
Your First Home scheme could save home buyers £21,500
The Government’s proposed ‘Your First Home’ scheme could save first-time buyers £21,471 over five years while cutting the minimum deposit requirement by half, according to UK Property Development Research.
Under the proposed scheme, eligible buyers of new homes could purchase with a 2.5% deposit and a 20% government-backed equity loan, although savings estimates are based on assumptions about terms that have not yet been confirmed.
More details, including eligibility criteria and property price caps, are expected in the Autumn Budget, with concerns raised over whether housing supply can meet growing demand.
