Autumn budget 2026: What it means for buyers, savers, and your mortgage

On Wednesday 28 October, the Autumn Budget for 2026 was announced. To see how it applies to you, check out the latest below.

First-time buyer ISA

It was announced that the First Time Buyer ISA will replace the Lifetime ISA. The LISA penalty will also be "dealt with", so that if the home you want costs more than the limit, you'll get back "at least what you put in".

The chancellor also announced the Your First Home Scheme, new to first-time buyers who "don't have the bank of mum and dad behind them".

From spring 2027, the scheme, which has been widely trailed, will be considered an equity loan scheme that has funding of £4.7bn from government-backed lending.

It's expected to be open to first-time buyers who have a deposit of 2.5%, and provide buyers with an equity loan worth 20% of the value of the new build property.

Mortgage support that makes sense

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