What Does The Autumn 2026 Budget Mean for Homeowners, Buyers and Landlords?

The Autumn Budget 2026 has introduced several changes that could affect homeowners, people looking to buy their first property and landlords too. From a new government scheme designed to help first-time buyers to higher tax rates on rental income, there are important developments to understand if you own a property or are planning to move.

Some announcements will take effect in the coming months, while others are planned for 2027 and beyond.

There are also areas where the Budget has made no changes, including the main Stamp Duty Land Tax thresholds for residential purchases.

Here, we look at the main property-related announcements and what they could mean for people buying, selling or letting a home in Nottingham and the surrounding areas.

What does the Budget mean for homeowners?

For most homeowners, the Budget does not introduce an immediate change to the process of buying or selling a property. The main Stamp Duty Land Tax thresholds remain unchanged, and there has been no general Stamp Duty reduction or increase for people moving home.

However, there are a few announcements worth knowing about, particularly if you own a higher-value property or are keeping an eye on household costs.

Higher-value properties could face an additional council tax charge

The government is planning to introduce a High Value Council Tax Surcharge in England from April 2028. It will apply to residential properties valued at £2 million or more and will be charged in addition to existing council tax.

The government has confirmed that there will be a deferral scheme, along with certain discounts and exemptions. A 100% premium will also apply to properties left empty and unoccupied for 12 months or more under the announced arrangements.

This change will only affect a small proportion of properties, but owners of higher-value homes should keep an eye on the final rules and how properties will be valued.

Help with household energy bills

The Budget also includes measures aimed at reducing household energy costs. The cut to VAT on domestic electricity bills will be extended until July 2027, while eligible households in England in council tax bands A to D are due to receive a £100 Household Energy Payment from January 2027.

These measures are intended to provide some help with household bills rather than directly changing the cost of buying or owning a property.

What does the Budget mean for first-time buyers?

One of the main property announcements is the Your First Home scheme, which is designed to help eligible first-time buyers purchase a new-build home with a smaller deposit and a lower mortgage.

The scheme is expected to open for applications in February 2027, with the first property sales planned for April 2027. Pre-registration and further guidance are expected to be available before the end of December 2026.

How does the Your First Home scheme work?

Eligible buyers will be able to purchase a qualifying new build property in England using:

• A deposit of at least 2.5% of the purchase price.

• A government equity loan covering 20% of the purchase price.

• A repayment mortgage from a participating lender to cover the remaining 77.5%.

For example, someone buying an eligible new-build property for £300,000 could put down a £7,500 deposit, use a £60,000 government equity loan and take out a £232,500 mortgage.

Without the scheme, a buyer purchasing the same property with a standard 95% mortgage would typically need a £15,000 deposit and a £285,000 mortgage.

The scheme could therefore make buying more accessible for people who can afford mortgage repayments but have struggled to save a larger deposit.

Who will qualify?

The scheme is intended for eligible first-time buyers purchasing a new build home from a participating developer. Buyers will normally need to meet the following requirements:

• Be a first-time buyer.

• Use the property as their main home.

• Have a total annual household income of £110,000 or less outside London, or £140,000 or less in London.

• Buy a property within the relevant local price cap.

• Pass the affordability and credit checks required by a participating mortgage lender.

The government has confirmed that local property price caps will apply, with the full list of local authority limits and details of participating developers due to be published. Not every new-build property will automatically qualify.

Will the scheme make monthly payments cheaper?

The smaller mortgage could mean lower monthly payments than a standard 95% mortgage, although the actual amount will depend on the property price and mortgage rate.

In the government's illustration for a £300,000 property, using a 30-year repayment mortgage at 5%, the monthly mortgage payment under Your First Home is approximately £1,248 during the first five years. This compares with around £1,530 for a standard 95% mortgage.

The government equity loan will be interest-free for the first five years. Interest is then set at 1.5% in year six and 3% from year seven under the published schedule. In the same illustration, the total monthly cost rises to approximately £1,323 in year six and £1,398 from year seven.

These are illustrative figures, not a mortgage offer. Buyers will also need to consider other costs, including legal fees, insurance, council tax, maintenance and any service or estate charges. The equity loan is linked to the property's value, so the amount eventually repaid can rise or fall as the property's value changes.

Remember, a mortgage is a loan secured against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.

A new First Time Buyer ISA is also planned

The government has also announced a new First Time Buyer ISA, expected to launch in April 2029. It will replace the Lifetime ISA for new savers and provide a 25% government bonus on the account balance when the money is withdrawn for a qualifying first-home purchase, up to a maximum bonus of £20,000.

The new account will be intended for first-home purchases worth up to £450,000. Existing Lifetime ISA holders will be able to continue contributing to and using their accounts under the existing rules.

From 29 October 2026, the withdrawal charge for existing Lifetime ISA holders buying a qualifying first home above the £450,000 price cap will be reduced from 25% to 20%. This change is intended to protect the value of their own contributions when buying a more expensive property, although the charge still means they may not receive their full savings back.

What does the Budget mean for landlords?

Landlords face one of the most significant property-related changes announced in the Budget: higher Income Tax rates on property income from April 2027.

From 6 April 2027, the rates are due to increase by two percentage points, becoming:

• Basic rate: 24%.

• Higher rate: 44%.

• Additional rate: 49%.

The changes apply to property income in England, Wales and Northern Ireland. Scotland has separate powers over income tax rates, so landlords there should check the rules that apply to their circumstances.

The increase could reduce the after-tax return for landlords who receive rental income personally. The effect will vary depending on the landlord's wider income, allowable expenses and individual tax position. Landlords should review their figures carefully rather than assuming the same change will affect everyone equally.

What should landlords do now?

If you own a rental property, it is worth reviewing your income and costs ahead of April 2027. Consider your mortgage payments, maintenance, insurance, compliance costs and the tax you may owe on your rental income.

It is also worth reviewing whether your current rent reflects local market conditions and the property's condition. Any decision to change rent needs to take account of the tenancy agreement, applicable legal requirements and what tenants can reasonably afford.

The Budget does not remove the need to plan for other changes affecting the private rented sector. Landlords should continue preparing for the Renters' Rights Act and keeping up with their responsibilities around property standards, tenant protections and compliance.

Robert Ellis provides a range of letting and property management services for landlords who want help marketing a property, finding tenants or managing a rental.

Has Stamp Duty changed?

No general reduction to Stamp Duty Land Tax was announced in the Autumn Budget 2026. The existing thresholds therefore remain in place for residential property purchases in England and Northern Ireland.

For standard residential purchases, Stamp Duty generally starts on the portion of the price above £125,000. Eligible first-time buyers currently pay no Stamp Duty on the first £300,000 of a property costing up to £500,000, with the standard first-time buyer relief rules applying.

This means buyers and homeowners planning to move should continue to include Stamp Duty in their calculations where applicable. The Your First Home scheme is separate from Stamp Duty and does not mean that every buyer using the scheme will be exempt from it.

Will the Budget affect house prices or mortgage rates?

The Budget does not set house prices or the mortgage rates available to individual buyers. Property values will continue to depend on factors such as local demand, the number of homes available, affordability and the wider economic outlook.

Mortgage rates are influenced by lenders' pricing, funding costs, expectations for inflation and interest rates, as well as the borrower's deposit and financial circumstances. The new first-time buyer scheme could support demand for eligible new-build homes, but it is too early to say what effect it will have on property prices in Nottingham.

For people thinking about selling, a realistic valuation based on recent local sales and current buyer demand remains important. Buyers should also assess what they can comfortably afford rather than basing their decision on the possibility of future rate changes.

What should buyers, sellers and landlords do next?

The Budget introduces some changes that will matter to particular groups, but it does not fundamentally change the process of buying, selling or letting a property.

• First-time buyers: Check the eligibility rules and launch timetable for Your First Home, and start planning your deposit and wider buying costs.

• Homeowners considering a move: Factor in existing Stamp Duty rules and get a current view of your property's market value before making plans.

• Landlords: Review your rental figures ahead of the planned April 2027 tax changes and make sure your property remains compliant.

• Owners of higher-value homes: Follow the guidance on the High Value Council Tax Surcharge due from April 2028.

For the latest information, read the government's Autumn Budget 2026 announcements and the official Your First Home scheme guidance.

How can Robert Ellis help?

Whether you are thinking about selling your home, buying your first property or reviewing a rental investment, understanding the local market is an important part of making an informed decision.

Robert Ellis has been helping people buy, sell and let properties across Nottingham, Arnold, Beeston, Long Eaton and Stapleford for more than 35 years. Our local teams can help you understand current market conditions and the options available to you.

If you are considering selling or want to understand your property's current market value, you can arrange a free property valuation. Landlords can also speak to our team about the services available to help manage a rental property.

Find your nearest Robert Ellis branch to speak to your local property team.

This article summarises selected property-related announcements from the Autumn Budget 2026. Some measures are due to take effect in the future and may require further legislation or guidance. Tax treatment depends on individual circumstances, so seek independent financial or tax advice where appropriate.