Industry moves to streamline the homebuying process have received overwhelming support from brokers, according to HSBC UK’s latest Broker Barometer.
The quarterly survey of 465 mortgage brokers, conducted in October 2025, highlighted strong endorsement for the cross-industry Project 28 initiative, as well as widespread calls for Stamp Duty reform and broader tax changes in the upcoming Autumn Statement.
Nearly nine in 10 brokers (89%) viewed Project 28 – the plan to cut the average time from sale agreed to exchange from 109 days to just 28 – as a positive step forward for the mortgage and property sectors.
Over one third described it as a “very significant” advancement.
Brokers cited better upfront information, early instruction of conveyancers, secure data sharing, and faster leasehold pack commissioning as the most important elements to improve transaction times.
Economic confidence among brokers eased slightly, with 61% rating their confidence in the UK economy at five or above, down from 78% in Q2.
Despite this, the profession remained optimistic about the housing market’s long-term prospects and continues to report solid performance.
Two thirds (67%) described 2025 as a good year for the mortgage industry, while the Broker Happiness Index remained steady at 69, with more than 80% of brokers planning to stay in the profession long term.
Ahead of the Autumn Statement, brokers called for targeted government action to support affordability and housing supply.
The top requests included Stamp Duty reductions, tax band adjustments, reintroduction of first-time buyer schemes, and greater investment in affordable housing and infrastructure.
Chris Pearson, head of intermediary mortgages at HSBC UK, said: “The HSBC UK Broker Barometer provides invaluable insight into the challenges and opportunities facing mortgage brokers today. Our latest findings show a profession that’s realistic about current market conditions but optimistic about the direction of travel.
“Brokers are strongly backing initiatives like Project 28, recognising the power of innovation to improve the homebuying experience.
“Their support underlines a shared commitment to make the journey faster, more transparent, and more efficient — benefiting brokers, customers, lenders and conveyancers alike.”
He added: “In the Autumn Statement, brokers have sent a clear message to the Chancellor: measures that support affordability, stimulate housing supply and simplify taxation will make a real difference – but the priority must be reform of Stamp Duty.”
