FASA 2025
Mortgage Provider

Mortgage Provider

On October 27 2025, the Renters’ Rights Act gained Royal Assent, making all tenancies open-ended and fixed-term tenancies no longer permitted under the new legislation. As providers and advisers look for loopholes in the law, this will create a flurry of new work within the industry.

FT Adviser reported that the RRA will bring, during its implementation in 2026, the most radical shake up of the private residential sector since the Housing Act 1998.

Advisers and providers will be in demand for legal support in this area, working together to talk to clients about the new rules and doing as much as they can to protect renters and landlords alike. It is likely that there will be questions from the industry on the new law in the Autumn Budget 2025.

Another topic which is likely to be discussed then is how brokers are looking for reforms in government policies in line with their expectations on the mortgage industry and how the financial tenets of these government policies affect everyone.

According to HSBC research, brokers have called for a reduction in stamp duty and increases to tax band allowances.

HSBC UK head of intermediary mortgages, Chris Pearson, said: “Measures that support affordability, stimulate housing supply and simplify taxation will make a real difference, but the priority must be reform of stamp duty.

“The feedback shows a profession that understands the wider economic context and wants to see long-term, sustainable growth in the housing market, not just short-term fixes.”

This has been an ongoing debate between government and industry, as in 2024 chancellor of the exchequer Rachel Reeves said stamp duty land tax would be reformed to “raise revenues” while also “supporting those buying their first home”.

Although Reeves said this measure was targeted at second-home buyers, there was a rush before the stamp duty deadline in 2024 for many first-time buyers, meaning that if it does not get scrapped it will affect affordability for many who do not have access to the resources they need.

It will also reduce availability for many if it goes up any more in the threshold between £125,000 and £250,000 of 2 per cent. Industry experts will be debating this right up until the budget takes place. 

At that time, in March 2025, Halifax Intermediaries, part of Lloyds Banking Group, together with Scottish Widows, put their clients first again and processed all completions a week before their deadline.

It could be one of the reasons that Halifax Intermediaries gained the Outstanding Achievement Award this year, getting five-stars 13 years’ running at the FASAs 2025.

Progressive Building Society got a five-star status and achieved Most Improved this year, while Just was voted company of the year and received a five-star award too.

Altogether there were 14 five-star winners this year compared with 12 five-star winners in 2024. Repeat performers were Accord Mortgages, BM Solutions, Coventry For Intermediaries, Just, Nationwide, NatWest Intermediary Solutions, Skipton Intermediaries, The Mortgage Works and TSB.

There were six repeat performers in the four-star category too: Aviva, Family Building Society, Leeds Building Society, LV, Newcastle Intermediaries and Santander For Intermediaries. Seventeen providers achieved four-star status in 2025 compared with 12 winners in 2025.

Julie Scott, chief commercial officer at Royal London, said her company had shared £2.3m with “eligible customers” through their ProfitShare scheme, “demonstrating the value of mutuality”.

“As the UK’s largest mutual life, pensions and investment company, we’re run for the benefit of our members and customers, not shareholders.

"This lets us focus on long-term positive change, share profits with eligible customers, and reinvest to improve our services and social impact.

“We are committed to supporting the financial advice market, recognising the vital role advisers play in helping customers achieve their goals.

"The strength and quality of our propositions and our customer and adviser focus are consistently recognised in high trust scores. Our five-star FASA award is further recognition of our commitment to continuous improvement.”