The Chancellor, John Healey, has unveiled the Autumn Budget today. There are no changes to stamp duty, but there is new help with energy bills, more detail on the Your First Home scheme and a new savings account for first-time buyers.

So, what does it all mean for homeowners, buyers, renters and landlords? And will it lead to better conditions for buying or selling? We've broken it all down for you.

The Budget at a glance

  • Stamp duty: no changes.
  • First-time buyers: £4.7 billion for the Your First Home scheme, with deposits from 2.5% and pre-registration opening by the end of December.
  • Savings for a first home: a new First Time Buyer ISA will replace the Lifetime ISA for new savers from April 2029.
  • Energy bills: a £100 payment for households in council tax bands A to D in England from January 2027, plus the VAT cut on electricity extended to July 2027.
  • Landlords and savers: income tax on property and savings income will rise by a further two percentage points from April 2027.
  • Cash ISAs: the £20,000 annual limit stays, after a planned cut was dropped.
  • Wages: the National Living Wage will rise to £13.21 an hour.

First-time buyers: the biggest winners

When the government first announced Your First Home in September, the details were still to be confirmed. Today's Budget filled in the gaps. According to the Budget document:

  • The scheme has £4.7 billion of funding and aims to help around 70,000 households in England.
  • It offers a 20% equity loan from the government, with a deposit of at least 2.5%, up to a maximum of 15%.
  • The loan is interest-free for the first five years, after which the rate gradually rises.
  • Household income caps are £110,000 outside London and £140,000 in London.
  • Price caps will be based on median prices in each local authority. In London, the caps are £650,000 in inner London and £500,000 in outer London.
  • Pre-registration opens by the end of December 2026, with full applications from February 2027.

Here's what that could mean in practice. On a £230,000 home, a 2.5% deposit is £5,750. The government would lend 20% (£46,000), leaving a mortgage of £178,250. The government says buyers using the scheme could save hundreds of pounds a month compared with a standard mortgage.

New First Time Buyer ISA. The Lifetime ISA will be replaced for new savers by a First Time Buyer ISA from April 2029. It keeps the main features of the Lifetime ISA: you can save up to £4,000 a year and get a 25% government bonus when you buy your first home, and there will be no upper age limit.

A change from tomorrow. From 29 October 2026, first-time buyers can use Lifetime ISA savings to buy a home above the £450,000 price cap with a reduced withdrawal charge of 20%, down from 25%.

🏠
Planning to use Your First Home? Pre-registration opens in December, so now is a good time to start looking. Use Planna's Area Guide to compare prices, schools and safety in the areas you're considering, and browse properties on Planna.

Homeowners and home movers

Stamp duty stays the same. There were no changes to stamp duty, so the current rules still apply. In England and Northern Ireland, home movers pay nothing on the first £125,000, and first-time buyers pay nothing on homes up to £300,000. You can check the current rates on GOV.UK.

Help with energy bills. The government announced a £2.6 billion Household Energy Payment. Households in council tax bands A to D in England will get £100 paid directly into their bank account from January 2027, reaching up to 20 million households. On top of that:

  • The VAT cut on electricity has been extended to July 2027, which the government expects to take around £50 off the annual price cap in April 2027.
  • The government has asked Ofgem to abolish gas standing charges, aiming for the end of 2027 or as soon as possible after then.

Mortgages. The Budget didn't include any direct changes to mortgages. Interest rates are set by the Bank of England, not the Chancellor. The Office for Budget Responsibility expects inflation to peak at 3.8% in early 2027 before falling back to the 2% target by the third quarter of 2028. Higher inflation has pushed up expectations for interest rates, so mortgage rates may stay higher for longer. The Bank of England's next rate decision is on 5 November.

Landlords

Last year's Budget announced a two percentage point rise in income tax on property and savings income from April 2027. Today, the Chancellor added a further two percentage points from the same date, across the basic, higher and additional rates. The government says 84% of income tax payers won't be affected.

The government will also consult on expanding third-party reporting of property income data, so HMRC is likely to get more information about rental income in future.

For landlords already adjusting to the Renters' Rights Act, it's another reason to keep a close eye on costs. Keeping properties well maintained helps avoid expensive emergency repairs. HomeScore rates each property's safety, condition and energy, so you can plan ahead.

Renters

There was no new support aimed specifically at private renters, but renters will benefit from the energy measures if they pay their own bills. The £100 Household Energy Payment goes through the council tax system, so it will reach renters who pay council tax in bands A to D in England. The National Living Wage will also rise by 3.9% to £13.21 an hour.

The Budget also included an extra £1.5 billion to build around 10,000 social and affordable homes in England.

Savers

The cash ISA limit will stay at £20,000 a year, after the government decided not to go ahead with a planned cut. Income tax on savings outside an ISA will rise by a further two percentage points from April 2027, so it's worth using your ISA allowance if you're saving for a deposit.

Wales, Scotland and Northern Ireland

The £100 Household Energy Payment is for households in England. The devolved governments in Wales, Scotland and Northern Ireland will receive their share of the funding through the Barnett formula, and it's up to them how they use it. The government is also funding the Northern Ireland Executive to provide comparable help with electricity bills. Your First Home applies in England only. Property taxes are also different outside England: Wales has Land Transaction Tax and Scotland has Land and Buildings Transaction Tax.

Will the Budget improve the property market?

The biggest change for the market may simply be that the uncertainty is over. In the run-up to the Budget, there was speculation about stamp duty changes, a new property tax and a lower threshold for the "mansion tax". None of those came to pass, so buyers and sellers who were waiting to see what happened can now plan with more confidence.

Your First Home could bring more first-time buyers into the market from early 2027, especially in more affordable parts of England. That could help sellers of homes within the price caps.

On the other hand, mortgage rates are likely to stay where they are until inflation starts to fall, and higher taxes on rental income could lead more landlords to sell up. Both could keep prices steady rather than pushing them up. For a closer look at how the numbers stack up where you live, read our guide to buying vs renting in 2026.

⭐
Your home: your secret weapon. Now that the uncertainty around the Budget has lifted, it's a good time to check where your home stands. Get your HomeScore to see how your home rates on safety, condition and energy, with tailored tasks to protect its value, whether you're planning to stay, sell or remortgage.

Whatever your next move, see how Planna can help at every stage of your home journey.

This article is for general information and does not constitute financial, tax or mortgage advice. It's based on the Budget 2026 document published by HM Treasury on 28 October 2026. Some measures may change as legislation is finalised. Speak to a qualified adviser about your own circumstances.