Overview

• The Leeds reforms represent the most extensive deregulation of UK financial services in over a decade, targeting credit access and private-sector investment while preserving current income tax rates.
• Mortgage-market changes lift loan-to-income multiples from 3.5 to 4.5 and lower salary requirements to £30,000 for single buyers and £50,000 for couples, paired with a permanent first-time buyer guarantee.
• Post-crisis safeguards, including ring-fencing, the Senior Managers Regime and the Financial Ombudsman Service, will be reviewed and streamlined to reduce compliance burdens.
• A retail-investment campaign backed by Barclays, Lloyds, Vanguard and Hargreaves Lansdown will let banks alert cash-rich customers to equity opportunities and consider ISA and risk-warning reforms.
• Consultation and implementation phases have begun, with the Treasury inviting industry and consumer feedback before finalizing the new regulatory framework.