🏡 First-Time Buyers: A new First-Time Buyers ISA will replace the Lifetime ISA, alongside further investment in affordable housing and additional support for first-time buyers.
💷 Lifetime ISA: The withdrawal penalty is reducing from 25% to 20%, potentially benefiting buyers purchasing above the £450,000 property limit.
🏘️ Buy-to-Let: Property income tax rates are increasing by 2% from April 2027, potentially impacting landlords holding properties personally.
📉 Mortgage Rates: No direct changes to mortgage rates, which will continue to be influenced by swap rates, inflation and Bank of England decisions.
As always, if you have any clients looking to purchase, remortgage or review their options following today’s announcements, we’d be delighted to help.