05/12/2025
What the 2025 Autumn Budget Means for Homebuyers.
Shire & County Mortgages as an independent broker can help advise on your circumstances to buy your dream home or remortgage for life events.
The recently announced 2025 Autumn Budget by Rachel Reeves has introduced some significant changes affecting the property market and many of them could reshape how home-buyers plan their purchase.
There are no changes to the standard one-time stamp duty land tax (SDLT) regime.
However, the government is introducing a new “high-value property surcharge” (a kind of “mansion tax”). From April 2028, properties valued over £2 million will attract an extra surcharge.
This means that while average-priced homes remain unaffected, people considering high-end properties, especially buy-to-let investors or second-home buyers should factor in these future costs.
📉 What It Means for First-Time Buyers
For those buying their first home in England or Northern Ireland, there is still a stamp duty relief.
So: the threshold has been lowered (from earlier levels), meaning that first-time buyers now often need to budget for stamp duty even on fairly modest homes, which can add thousands to the upfront cost.
This makes it more important than ever to plan carefully and avoid being caught off-guard financially at completion.
🤝 Why a Mortgage Adviser Could Make a Big Difference Now
Given the shifting landscape, teaming up with a mortgage adviser could be one of the smartest moves for anyone thinking of buying a home. Here’s how we can help:
Clarity on actual costs: We can run numbers for you, including stamp duty, legal fees, mortgage repayments, deposit required, so you know exactly what you’ll need upfront, and what monthly payments will look like.
Help maximise affordability: With first-time buyer relief now limited, we can suggest deposit sizes, loan-to-value ratios (LTV), and mortgage products that balance affordability and long-term sustainability.
Guidance through the process: Buying property is complex, from getting a Decision in Principle (DIP/AIP) and confirming your borrowing capacity, to managing conveyancing, lining up surveys, and dealing with the timing of purchase. We can help you avoid pitfalls.
Strategic planning: We are arranging more mortgages based on Joint Borrower, Sole Proprietor (JBSP). This type of mortgage can substantially increase borrowing capacity however this type of mortgage needs careful explanation. Speak to us to see whether this is suitable for you.
✅ What Homebuyers Should Do Right Now
If you’re thinking about buying in the near future:
Get a realistic budget together, include purchase price, deposit, stamp duty, legal costs, moving expenses, and running costs.
Check that the property price is within range and budget.
Speak to us early before you make offers, so you know what you can borrow, and what deals might suit you.
Remember: Your property may be repossessed if you do not keep up repayments on your mortgage.
