# Autumn Budget 2026: what it means for the property market

Posted 28/10/2026 by [Your Move](/blog/authors/marketing-team)

The Autumn Budget confirmed new support for eligible first-time buyers purchasing participating new-build homes in England.

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**Summary: The Autumn Budget 2026** introduced the **Your First Home scheme**, which could help eligible first-time buyers in England purchase participating new-build properties with a **2.5% deposit** and a **20% government-backed equity loan**.

The Government is also developing a new **First Time Buyer ISA**, expected to replace the Lifetime ISA for new savers. Its launch date, bonus rate, contribution limit and property price cap are yet to be confirmed. The changes could support first-time buyers and encourage wider activity across the property market.

The Autumn Budget 2026 included new measures aimed at helping first-time buyers in England, alongside plans for a simpler savings product for people working towards their first home.

The main housing announcement was the **Your First Home scheme**, which could allow eligible first-time buyers to purchase participating new-build properties with a **2.5% deposit** and a **20% government-backed equity loan**.

The Government is also developing a new **First Time Buyer ISA (FTB ISA)**, which is expected to replace the Lifetime ISA for new savers. Although April 2028 has been suggested as a possible launch date, this has not yet been formally confirmed.

Here is what the announcements could mean for buyers, sellers and the wider property market.

## What is the Your First Home scheme?

The **Your First Home scheme** is designed to help eligible first-time buyers in England purchase a participating new-build home with a smaller deposit.

Under the announced plans, buyers could have:

- A minimum deposit of 2.5%
- A 20% government-backed equity loan
- A mortgage covering the remaining 77.5%

The scheme is expected to open in **Spring 2027**. It will be subject to household income limits, regional property price caps and other eligibility rules. Buyers will also need to purchase from a participating developer.

Although a smaller deposit could help some people buy sooner, applicants will still need to meet a mortgage lender’s affordability and credit requirements. Buyers should also understand how the equity loan works, including when fees or interest may become payable.

## What is the First Time Buyer ISA?

The Government is developing a new **First Time Buyer ISA** to help people save for their first home.

The proposed account is intended to be simpler than the Lifetime ISA because it would have one main purpose: helping eligible first-time buyers purchase a property.

The proposed features include:

- Eligibility for people aged 18 and over, with no upper age limit
- A Government bonus paid when the account is used to buy a qualifying first home
- No 25% withdrawal charge if a saver’s circumstances change
- Potential cash and stocks and shares versions

The annual contribution limit, bonus rate and property price cap have not yet been confirmed. The Government has also not formally confirmed the launch date, so April 2028 should currently be treated as an expected timeframe rather than a guaranteed date.

## What will happen to Lifetime and Help to Buy ISAs?

The **FTB ISA** is expected to replace the Lifetime ISA for new savers once it becomes available.

Existing Lifetime ISA holders are expected to keep their accounts and continue using them under the current rules. It should also remain possible to open and pay into a LISA until the new product launches.

Help to Buy ISAs have been closed to new applicants since 2019. Existing holders can continue paying into them 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**, although the final process has not yet been confirmed.

Anyone currently using a LISA or Help to Buy ISA should continue to follow the existing rules until further guidance is published.

## How could the measures help first-time buyers?

Saving a deposit while paying rent and other living costs remains one of the biggest barriers to home ownership.

The Your First Home scheme could reduce the initial deposit required by eligible buyers purchasing participating new-build properties. The **FTB ISA** could also provide a more focused way to save, with a Government bonus intended to be paid when the money is used for a qualifying purchase.

However, buyers will still need to budget for **[mortgage costs](/page/2024)**, legal fees, surveys, moving expenses and property taxes. They will also need to meet a lender’s affordability criteria.

## Could the changes affect the wider property market?

Helping more first-time buyers purchase a home could support activity elsewhere in the market.

First-time buyers often start a property chain, allowing existing homeowners to sell and move onwards. However, the impact will depend on local house prices, mortgage rates, housing supply and buyer confidence.

The measures are therefore likely to support some parts of the market more than others, particularly areas with suitable new-build properties within the relevant price caps.

## Did the Budget change Stamp Duty?

The Chancellor did not announce immediate changes to current **[Stamp Duty](/page/224)** Land Tax rates or thresholds in England and Northern Ireland.

Different property taxes apply in Scotland and Wales, so buyers should check the rules for the location of the property.

## What should buyers and sellers do next?

Prospective buyers should check the final eligibility rules for the Your First Home scheme, review their budget and seek mortgage advice before making a decision.

Anyone saving through a Lifetime ISA or Help to Buy ISA should continue using the current rules and wait for further details about the **FTB ISA.**

For sellers, increased first-time buyer activity could help create more movement through property chains. A valuation can help you understand your current position before deciding whether to move.

**[Book a free property valuation](/page/1992)**

[Book a mortgage appointment](/page/2024)

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## FAQs

### What was announced for first-time buyers?

The Government confirmed the Your First Home scheme, which could allow eligible buyers in England to purchase participating new-build homes with a 2.5% deposit and a 20% government-backed equity loan.

### When will the First Time Buyer ISA launch?

No firm date has been confirmed. April 2028 has been suggested as a possible timeframe, but this remains subject to confirmation.

### Will the First Time Buyer ISA replace the Lifetime ISA?

It is expected to replace the Lifetime ISA for new savers once it becomes available. Existing LISA holders are expected to retain their accounts.

### Did the Budget change Stamp Duty?

No immediate changes to current Stamp Duty Land Tax rates or thresholds were announced for England and Northern Ireland.

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