With the Autumn Budget due on 28 October 2026, many homeowners, buyers and landlords are waiting to see whether the Chancellor will announce changes that affect property costs, mortgage access or taxation.
That uncertainty is already influencing the market. Buyer enquiries and mortgage approvals have softened, with some people choosing to pause their plans until the Budget is clearer.
However, it’s important to separate confirmed information from speculation. Budget details aren’t official until the Chancellor announces them in Parliament, and policies can change before implementation.
Here’s what we know so far, and what you can do now to prepare.
What’s confirmed?
The Autumn Budget is scheduled for Wednesday 28 October 2026. Until then, reports about possible property measures should be treated carefully.
One confirmed announcement is the government’s proposed Your First Home scheme for eligible first-time buyers in England. The government has said the scheme is expected to support:
- A 2.5% deposit
- A government-backed equity loan of up to 20%
- Purchases of eligible new-build homes
- An initial interest-free period on the equity loan
The scheme is expected to help buyers who can afford monthly mortgage payments but are struggling to save a larger deposit. The government has also indicated that household income limits, local property price caps and implementation details will be announced at the Budget.
This means the scheme has been announced in principle, but buyers shouldn’t assume they’re eligible until the full rules are published.
For the latest official information, see the government’s announcement about Your First Home.
Could mortgage approvals improve?
Mortgage approvals have weakened as buyers respond to affordability pressures, mortgage rates and uncertainty about the Budget.
There is currently no confirmed Budget measure that will directly reduce mortgage rates or remove affordability checks. Interest rates are influenced by lender pricing, market conditions and Bank of England policy. Mortgage providers will still need to assess your income, spending, deposit and overall ability to repay.
Your First Home could help some first-time buyers by reducing the deposit barrier. It won’t necessarily make borrowing affordable for everyone, however. You’ll still need to pass standard lender checks, and the property must meet the scheme’s requirements.
If you’re considering buying, it may be sensible to:
- Review your current income and monthly commitments
- Check your credit report
- Speak to a qualified mortgage adviser
- Understand how much deposit you can genuinely afford
- Ask how changes in rates could affect your monthly payments
- Avoid assuming that a lower deposit automatically means a lower-cost purchase
A mortgage agreement in principle can help you understand your position before you begin seriously viewing homes. It also gives you a clearer budget if you’re searching for a property for sale.
What about stamp duty?
Stamp Duty Land Tax is one of the areas attracting the most speculation before the Budget.
At present, no new stamp duty cut, holiday or wider relief has been confirmed for 28 October. There have also been reports that major immediate changes are unlikely, but the final position will only be clear once the Chancellor speaks.
If you’re buying or selling, it’s best not to base your entire decision on an unconfirmed tax change. A delay could also carry costs, including:
- Continuing mortgage or rental payments
- Additional valuation and legal costs
- A change in your personal circumstances
- The risk of losing a suitable property
- Market conditions moving in either direction
That doesn’t mean you should rush. It means you should compare the practical cost of waiting with the potential benefit of any future announcement.
A solicitor, conveyancer or tax adviser can explain how current stamp duty rules apply to your situation.
What should homeowners prepare?
For most homeowners, the Budget may not require an immediate decision. It is still a useful point to review your plans.
If you may move within the next six to twelve months, consider arranging a property valuation online as an initial guide. An online valuation can give you a quick indication of potential value, while an in-person valuation provides a more detailed view based on condition, location, comparable homes and current buyer demand.
You should also consider:
- Whether your home needs small improvements before marketing
- How much equity you may have
- Your likely selling and moving costs
- Whether your mortgage has early repayment charges
- Whether your next purchase depends on selling first
- How long you’re comfortable remaining in your current home
An accurate valuation won’t predict the Budget, but it can help you make decisions using realistic figures rather than headlines.
If you’re thinking, “Should I sell my house now or wait?”, the answer depends on your circumstances, not only on the announcement. Your reason for moving, timescale, mortgage position and local demand all matter.
A confidential conversation with a local agent can help you understand your options without committing to the market.
Could high-value homes be affected?
A proposed High Value Council Tax Surcharge has been discussed for homes in England valued at £2 million or more. The reported policy direction is for an additional annual charge, with further details expected around how properties would be valued and how the charge would be collected.
This is separate from ordinary council tax and would primarily affect owners of higher-value homes. The details, timings and practical arrangements should be checked against the final government announcement and any legislation.
If you own a high-value property, it may be sensible to:
- Keep a record of previous valuations
- Review your ownership and tax position
- Consider whether your long-term plans still fit the property
- Speak to a tax adviser before making a sale or transfer decision
A valuation should not be arranged solely to respond to a newspaper estimate. Professional advice is important where potential tax liabilities are significant.
What could it mean for landlords?
Landlords are also watching the Budget closely, particularly in relation to rental income, mortgage costs and regulation.
Some changes to rental income taxation have already been discussed as future measures, including separate rates for property income from April 2027. However, landlords should wait for the final Budget documents and legislation before relying on reported rates, dates or exemptions.
There is currently no confirmed announcement that will make buy to let investment borrowing easier. Lenders will continue to assess rental cover, loan-to-value, personal income, interest rates and the strength of the overall application.
Before the Budget, landlords may wish to review:
- Current rent against local market levels
- Mortgage interest rates and the next refinancing date
- Insurance and maintenance costs
- The effect of possible tax changes on net income
- Compliance responsibilities and tenancy documents
- Whether to retain, refinance or sell a property
A simple cash-flow review can show whether your investment remains comfortable if rates, repairs or void periods are higher than expected.
If you’re considering letting a property, Lyss Homes provides a fully managed service with free Rent Protection and Eviction Cover included for qualifying managed instructions. You can find out more about our landlord service.
What should sellers do now?
If you’re planning to sell, waiting for the Budget may feel like the safest option. But it’s worth preparing before 28 October so you can act when the position becomes clearer.
You could:
- Arrange a valuation
- Review comparable homes currently on the market
- Collect guarantees, certificates and relevant paperwork
- Tackle small presentation or maintenance issues
- Consider your preferred moving timescale
- Check whether you need to secure another property first
Good preparation gives you flexibility. You can decide to launch straight away, wait for more certainty or adjust your expectations based on the announcement.
A realistic asking price will remain important. Buyers are more cautious when affordability is stretched, and an overpriced home can lose valuable early attention. Local advice can help you understand where your property sits in the current market.
Our selling service is designed to provide clear timelines, transparent pricing and regular updates throughout the process.
What should buyers do now?
If you’re buying, use the time before the Budget to become decision-ready.
Make sure you know:
- Your maximum comfortable monthly payment
- The deposit you have available
- Whether you could use a scheme such as Your First Home
- Which areas and property types fit your budget
- Whether you need to sell another property
- How much you should reserve for legal, survey and moving costs
First-time buyers interested in Your First Home should wait for the final eligibility criteria. In particular, check the household income limit, regional price cap, participating developers and application timeline once these are published.
The scheme may open a useful route for some buyers, but it won’t replace careful affordability checks. A smaller deposit can help you reach the market, but the mortgage and future equity loan still need to be managed comfortably.
What happens next?
The Budget may bring useful clarity, but it is unlikely to remove every uncertainty immediately. Some announcements may require consultations, further legislation or detailed guidance before their effects are fully understood.
For now, the most helpful approach is practical:
- Check your affordability
- Review your mortgage deal
- Understand your tax position
- Arrange a valuation if you may move
- Review your landlord figures if you own an investment property
- Avoid making decisions based only on speculation
At Lyss Homes, we’re here to provide honest, hands-on advice whether you’re considering a sale, looking for your next home or reviewing a rental property.
You can book a valuation, request a free online property valuation or contact our team for a straightforward conversation about your plans.