BREAKING: Chancellor unveils details of Your First Home Scheme and new First-Time Buyer ISA in Autumn Budget
Summary
The Autumn Budget sets out new support for first-time buyers, including a replacement First Time Buyer ISA and a new Your First Home Scheme due to open for applications in February 2027. The Chancellor also confirmed additional funding for social and affordable housing, a pause on major building regulation changes except for critical safety rules, and no changes to stamp duty.
Why it matters
These measures may influence demand, affordability and transaction activity in the lower end of the housing market, with implications for valuation assumptions and buyer behaviour. The pause on wider building regulation changes, alongside an exception for critical safety rules, is also relevant to surveyors tracking compliance and construction standards.
Key points
- First Time Buyer ISA will replace the Lifetime ISA
- Your First Home Scheme offers a 20% government equity loan and 2.5% minimum deposit
- Scheme expected to open for applications in February 2027
- £1.5 billion extra funding announced for social and affordable housing in England over 10 years
- No stamp duty reform or abolition was announced
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