29/10/2026
First-time buyers, there’s some exciting news from the Autumn Budget!
Remember the Your First Home Scheme we mentioned a few weeks back?
Well, it’s now been officially confirmed! ✅
This new government scheme is being introduced to help first-time buyers purchase a new-build home with a much smaller deposit.
🏡 You could buy with just a 2.5% deposit, alongside a government equity loan worth 20% of the property’s value, with no interest charged for the first 5 years.
So, when can you apply?
📅 Applications are expected to open in February 2027, although this date hasn’t been fully confirmed yet.
Before that, pre-registration will open before the end of 2026.
You won’t be committing to a purchase by registering. Instead, you’ll receive more details about eligibility and the maximum property prices in your area.
More information is available here:
https://www.gov.uk/government/publications/your-first-home/your-first-home
💷 There’s also an update on savings for first-time buyers!
A new First Time Buyer ISA is being planned to offer a simpler way of saving towards a deposit.
It’s intended to replace the Lifetime ISA for people opening a new account, but existing Lifetime ISA savers will be able to carry on using theirs.
We don’t have a confirmed launch date for the new ISA just yet.
With these announcements, there’s plenty for future homeowners to look forward to! 🤩
Thinking about buying your first home? We can help you explore your mortgage options and understand what these changes could mean for you.
📩 Drop me a message to have a chat!
Your home may be repossessed if you do not keep up repayments on your mortgage.
