30/10/2026
**Autumn Budget 2026: What does it mean for homebuyers?**
The Autumn Budget has brought some potentially welcome news for first-time buyers looking to get onto the property ladder.
The Government has announced a new 'Your First Home' scheme, designed to help eligible buyers purchase a new-build home in England.
*Here's what we know so far:*
- Smaller deposits: Eligible buyers could access an equity loan of 20% of the property price, potentially reducing the mortgage deposit needed.
- Interest-free period: The equity loan will be interest-free for the first five years, with interest charges applying thereafter.
- Launching in 2027: Applications are expected to open in February 2027, subject to the scheme's final arrangements.
The scheme will have eligibility criteria, and it's important to understand the longer-term costs and repayment obligations before deciding whether it's right for you.
*Thinking about buying your first home?*
At Harmony House Mortgages, we can help you explore your mortgage options and understand what may be suitable for your circumstances.
Harmony House Mortgages Ltd is an Appointed Representative of The Right Mortgage Ltd, which is authorised and regulated by the Financial Conduct Authority.
Your home (or property) may be repossessed if you do not keep up repayments on your mortgage or any other debts secured on it.