29/10/2026
📣 AUTUMN BUDGET 2026 — WHAT COULD IT MEAN FOR YOU? 🏡💷
Yesterday, Chancellor John Healey delivered his first Autumn Budget, with announcements affecting first-time buyers, savers, homeowners and household budgets.
Here’s a plain-English rundown 👇
💰 CASH ISA ALLOWANCE STAYS AT £20,000
The planned reduction to £12,000 has been cancelled. Savers can continue to put their full £20,000 annual ISA allowance into cash ISAs.
🔑 NEW FIRST-TIME BUYER ISA
Launching in April 2029, replacing the Lifetime ISA for new savers:
✅ Save up to £4,000 a year
✅ Receive a 25% government bonus towards a qualifying purchase
✅ Buy a first home worth up to £450,000
✅ No upper age limit
Existing LISA holders can continue using their accounts.
🏡 YOUR FIRST HOME SCHEME — ENGLAND ONLY
Eligible first-time buyers purchasing a new-build home could benefit from:
🔸 A minimum deposit of 2.5%
🔸 A government equity loan worth 20% of the purchase price
🔸 No interest on the equity loan for the first five years
📅 Applications open February 2027, with first loans expected in April 2027.
An equity loan must be repaid and is separate from your mortgage. Eligibility and scheme conditions apply.
👷 MINIMUM WAGE INCREASES
From April 2027:
💷 Aged 21 and over: £13.21 an hour
💷 Aged 18–20: £11.27 an hour
🏘️ TAX ON PROPERTY & SAVINGS INCOME
From April 2027, rates will rise to 24%, 44% and 49%.
📍 Property income rates apply in England, Wales and Northern Ireland; savings income rates apply UK-wide.
🏦 HIGHER BANK SURCHARGE
The bank surcharge will temporarily increase from 3% to 6%, from January 2027 to March 2028, to help fund energy support.
⚡ ENERGY & HOUSEHOLD SUPPORT
🔸 Gas standing charges in Great Britain to be abolished by the end of 2027, or as soon as possible afterwards.
🔸 £100 energy payment for households in Council Tax bands A–D in England from January 2027.
🔸 Electricity VAT relief extended to 1 July 2027.
🔸 A Warm Homes Loan Scheme to support heat pumps and clean energy technology.
📌 OTHER ANNOUNCEMENTS
🔑 LISA withdrawal charge reduced to 20% for otherwise qualifying first-home purchases above £450,000, from 29 October 2026.
⛽ The temporary 5p-per-litre fuel duty cut continues, with the planned inflation increase deferred until 1 July 2027.
👶 Parental pay extended to eligible self-employed fathers, partners and adopters in Great Britain from April 2029.
🤝 The Carer’s Allowance earnings cliff edge will be replaced with a taper in England and Wales during 2030/31.
🚗 Tax-free business mileage rate of 55p for the first 10,000 miles made permanent, with the rate above this rising to 35p from April 2027.
🛒 Import tariffs suspended on over 100 further food products and heating oil from November 2026.
💬 WONDERING WHAT THIS COULD MEAN FOR YOUR HOME-BUYING PLANS?
Whether you’re buying your first home, moving or approaching the end of your mortgage deal, I’m here to help explain your mortgage options.
🏡 Staff Davies Financial Services
✅ Whole-of-market mortgage advice
✅ Over 30 years’ industry experience
✅ Friendly, honest and reliable
✅ No fees for my advice
📩 Drop me a message for a chat.
ℹ️ This is a general summary. Individual circumstances, eligibility and implementation dates matter, and some measures apply only in certain parts of the UK.
Your home may be repossessed if you do not keep up repayments on your mortgage.
