For first time buyers struggling to save a deposit, we are hopeful it could make a real difference, as long as the income and property price caps reflect local wages and housing costs, whether buyers live in Manchester, Minehead or Merton.
With the scheme restricted to new build homes, this is also an opportunity for the government to insist on better standards. Quality matters as much as quantity, and buyer protection must be built in from day one. That's why HomeOwners Alliance is joining the New Homes Quality Board and the New Homes Ombudsman Service in calling for clear quality standards and access to an independent ombudsman to be conditions for every developer taking part in Your First Home. The government must also introduce its promised statutory new-build quality code without delay. Buyer protection must be built in from day one.
The Budget must also help people move beyond their first home. Families need room to grow, people need to relocate for work and older homeowners need viable options to downsize. Stamp duty penalises all of them. So we continue to call on the government to scrap stamp duty.
Our 2026 HomeOwners Survey found 36% of homeowners said reducing stamp duty would make moving easier. We want it scrapped for people buying a home to live in. Helping first-time buyers is welcome, but we also need to unblock the housing chains they will soon depend on.
And finally, a plea. We already have a government scheme called First Homes. Now we’re getting Your First Home. Will the government be closing down the original scheme? Buyers need help finding a home, not working out which scheme is which. Could the government spare a little Budget-day creativity for a name that won’t leave everyone confused? What's so wrong with the new Help to Buy?
