The Autumn Budget 2026 included a number of announcements that may be of interest to anyone hoping to buy their first home, sell up or move in the years ahead.
For first-time buyers, the headline proposals are the new Your First Home scheme and a planned First Time Buyer ISA. Both could offer additional support, although several important details are still to be confirmed.
There were no immediate changes to Stamp Duty rates or thresholds in England and Northern Ireland.
New support for first-time buyers
The proposed Your First Home scheme is intended to help eligible first-time buyers purchase selected new-build properties in England.
Under the current plans, buyers may be able to purchase with:
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A deposit of just 2.5%
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A government-backed equity loan worth 20%
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A mortgage covering the remaining 77.5%
The scheme is expected to launch in Spring 2027, although this date has not yet been confirmed. Eligibility is likely to depend on factors such as household income, the property’s location and value, and whether the developer has opted into the scheme.
A lower deposit could help some buyers take their first step onto the property ladder sooner. However, buyers will still need to meet their lender’s affordability and credit requirements. It will also be important to understand the terms of the equity loan, including any future charges, interest or repayment obligations.
A proposed First Time Buyer ISA
The Government is also working on a new First Time Buyer ISA, or FTB ISA.
The proposed account is intended to give first-time buyers a dedicated way to save towards their first property. Once introduced, it is expected to replace the Lifetime ISA for new savers.
Current proposals suggest that the FTB ISA could:
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Be open to anyone aged 18 or over, with no upper age limit
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Include a Government bonus when savings are used to purchase an eligible first home
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Remove the existing 25% Lifetime ISA withdrawal charge
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Offer both cash and stocks and shares options
At this stage, the Government has not confirmed the bonus rate, annual contribution limit or maximum property value. April 2028 has been mentioned as a possible launch date, but this should not be relied upon until formally confirmed.
What about existing ISAs?
Anyone who already holds a Lifetime ISA is expected to be able to keep it and continue using it under the existing rules. It should also remain possible to open a LISA until the new FTB ISA is introduced.
Help to Buy ISAs have been closed to new applicants since 2019. Existing account holders can continue contributing until November 2029 and claiming the Government bonus until November 2030.
The Government has proposed allowing Help to Buy ISA holders to transfer their savings into the new FTB ISA. However, the details of how this would work have not yet been published.
If you currently have a LISA or Help to Buy ISA, it makes sense to continue following the existing rules until more information becomes available.
Could these plans help get more property chains moving?
The potential impact may extend beyond those buying their first home.
First-time buyers are often the starting point for a wider property chain. If more people are able to buy, this could give existing homeowners the confidence to sell, move onwards and create further activity across the market.
How significant that impact will be depends on a range of factors, including mortgage rates, local house prices, housing supply and overall buyer confidence. The proposals may be particularly useful in areas where new-build properties fall within the eventual price limits.
That said, the measures are unlikely to affect every area or property type in the same way. Buyers will still need to plan carefully around affordability, while sellers should continue to price their homes in line with current market conditions.
Stamp Duty position remains the same
The Budget did not include immediate changes to Stamp Duty Land Tax rates or thresholds in England and Northern Ireland.
Scotland and Wales have their own property tax systems, so anyone buying in either country should check the rules that apply locally.
When planning a move, it is also important to budget for the wider costs involved, including conveyancing, surveys, mortgage fees, removals and any repairs or improvements your new home may need.
What should buyers and sellers do next?
If you are a first-time buyer, keep an eye on further announcements about the Your First Home scheme and FTB ISA. In the meantime, reviewing your finances, checking your credit record and speaking with a mortgage adviser can help you understand what may be achievable.
For existing homeowners considering a move, arranging a valuation can be a useful starting point. A clear idea of your home’s likely market value can help you understand your available equity and set a realistic budget for your next purchase.
Our local property experts are here to help with advice on buyer demand, recent sales and the latest market conditions in your area.
