What did the Budget announce for first-time buyers?
Three changes matter directly to a deposit plan: the Your First Home equity-loan scheme, a conditional reduction in the LISA withdrawal charge and a new savings ISA planned for 2029. Published on 28 October 2026; the start dates differ.
Your First Home: caps and dates
The scheme has a 2.5% minimum deposit, 15% maximum deposit and up to 20% equity borrowing. Household caps are £110,000 outside London and £140,000 inside London. Pre-registration is planned by the end of December 2026, full applications from February 2027 and first loans from April 2027.
Read the full scheme guide, London price caps and remaining unknowns →
Get confirmed updates and opening-date reminders →Lynton Mortgages emails, separate from government registration.
Savings: what changes and when?
From 29 October 2026 the LISA charge becomes 20% for above-£450,000 purchases which otherwise meet the qualifying rules. Other unauthorised withdrawals stay at 25%. The price cap has not risen.
See the savings explanation and compare the charges.
A new First Time Buyer ISA is planned for April 2029. It is not available today.
What has not changed your budget today?
The published tax annex retains England first-time-buyer SDLT relief: 0% to £300,000 and 5% on the part to £500,000, for qualifying purchases no higher than £500,000. Above £500,000, first-time-buyer relief does not apply. Check the tax guide and scope.
Future pay and household support do not automatically increase today’s take-home income or reduce your bills. Use actual income, realistic property costs and a reserve. The Budget does not establish your mortgage rate, acceptance or a personal scheme allocation.
Later equity-loan charges, full participating-home lists and local caps still need checking. The tools retain unknown costs and do not apply a government equity loan to an ordinary saved plan.
Questions you might be asking
Did the Budget change first-time-buyer Stamp Duty relief?
The published rates annex retains the £300,000 and £500,000 first-time-buyer relief thresholds. Buyer and transaction conditions still matter.
Can I register for Your First Home here?
This site offers optional confirmed updates from Lynton Mortgages. It does not register you with the government scheme.
Sources
Original information checked 28 October 2026. Lender criteria and government plans can change.
What to do next
Start with what you can afford each month, then check the cash and conditions for the route you are considering. Download the questions checklist.
Build my starting budget →Get Your First Home updates and opening-date reminders →Optional emails from Lynton Mortgages. Separate from government pre-registration.