30/10/2026
🏡 So, the Budget happened on Wednesday… but what does it actually mean for homeowners, buyers and property investors? 💷
We've had a look through the announcements and picked out a few things that might be worth knowing if you've got a mortgage, are thinking about buying a home or have a property portfolio.
Here's our little mortgage broker breakdown! 👇
🔑 FIRST-TIME BUYERS
There could be some help on the horizon for those looking to get onto the property ladder!
⭐From February 2027, the new ‘Your First Home’ scheme could offer eligible first-time buyers a government equity loan of up to 20% on a new build home, with deposits starting from just 2.5%. Eligibility rules will be published nearer the time. Definitely one to keep an eye on if buying your first home is on your wish list!
⭐There is also a new First Time Buyer ISA planned for April 2029, offering a 25% government bonus on qualifying savings.
🏠 HOMEOWNERS
⭐No changes to Stamp Duty this time around, but it's still worth keeping an eye on how the wider Budget announcements could affect your household finances.
⭐Around 20 million households in council tax bands A–D in England could be set to receive a £100 energy payment in 2027.
⭐The temporary VAT reduction on household electricity bills has been extended until July 2027.
⭐A High Value Council Tax Surcharge will apply to properties worth £2 million or more in England, subject to the announced rules and exemptions.
💷 LANDLORDS & PROPERTY INVESTORS
There's something important for landlords to be aware of here.
⭐Income tax rates on property income are set to increase by 2 percentage points from April 2027, which could make a difference to the returns on personally owned rental properties.
If you've got a buy-to-let property or are thinking about adding to your portfolio, it's worth keeping these changes in mind when working out the figures.
📈 AND WHAT ABOUT MORTGAGE RATES?
One thing worth remembering is that the Budget doesn't automatically mean mortgage rates will go up or down. Rates are influenced by lots of different things, including inflation & the Bank of England.
So, don't panic based on the headlines!
Our thoughts… 💭
There are a few things in this Budget that could be worth keeping an eye on, whether you're already a homeowner, hoping to buy your first property or building a property portfolio.
As always, everyone's circumstances are different, and what might be good news for one person might not necessarily be good news for another!
🏡 It's certainly given us plenty to talk about in the mortgage world!
Your home may be repossessed if you do not keep up the repayments on your mortgage.
