A fifth of UK mortgage brokers (20%) are viewing potential policy changes by the Government as the single most important factor shaping client decisions in the year ahead.

This is according to new research by Nottingham Building Society, with concerns about changes in the Autumn Budget ranking ahead interest rates, inflation and the cost of living.

Nottingham’s research, based on a study of 500 UK mortgage brokers, found that fewer brokers highlighted mortgage regulation and affordability rules (19%), energy and utility costs (19%) or interest rates (17%). The cost of living, which has dominated household finances for the past few years, also ranked lower at 14%.

The society suggested the heightened concern comes as the Treasury is weighing up “radical reforms” to the property tax system.

One option reportedly under consideration is spreading stamp duty payments over several years rather than as a lump sum, with the aim of reducing upfront costs for buyers. Another proposal would see sellers take on liability above a £500,000 threshold. More radical suggestions include abolishing stamp duty altogether and replacing it with an annual property levy.

Chief lending officer at Nottingham Building Society, Aaron Shinwell, said: “What’s clear, with the Budget approaching, is that sweeping changes introduced without careful planning risk creating more uncertainty and reducing market fluidity.

“Any move to annual property taxes would need to be carefully managed to avoid disincentivising downsizing, reducing housing mobility, or creating unpredictable, ongoing costs for retirees and families. These changes could particularly impact pensioners who are ‘asset rich but cash poor’, as well as regions such as London and the South East where a much higher proportion of properties fall above £500,000.

“Policy stability is crucial. Brokers tell us that without it, clients delay decisions, which in turn restricts both supply and demand. That doesn’t just affect those looking to buy or sell today, but has wider consequences for the health of the housing market and the broader economy.”

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