The Intermediary – October 2026 - Flipbook - Page 31
R A P I D R E AC T I O N
Your First Home
expected to kick-start every part of the country
properties. Reforming Stamp Duty could unlock
in the same way.
that supply.
Timing is everything. It is important that the
Government now moves quickly to implement
If Andy Burnham is serious about helping
young people onto the housing ladder, he
the scheme. With rents continuing to rise,
should consider reinstating the Stamp Duty
first-time buyers need clarity on when and
holiday on homes worth up to £500,000, first
how the scheme will operate and we can’t risk
introduced during the Covid-19 pandemic. This
stalling the market. There is a real risk that
straightforward measure could give the market
any uncertainty around its introduction means
an immediate boost by encouraging both buyers
further stalling activity in the short-term.
and sellers. It would help older homeowners to
The housing industry needs a shot in the
downsize, bring more family homes onto the
arm, and this could provide that. The Budget
market, stimulate wider economic activity and
will be the key moment to understand the detail,
raise additional revenue for the Treasury.
particularly around the price caps.
Saddat Abid
founder and CEO
at Property Saviour
The Government’s commitment to more
council and social housing makes sense as it
would provide new affordable housing while
developers unencumbered by social housing
obligations could get on with meeting market
demand. A genuinely mixed economy in housing
is a necessary part of the answer.
Your First Home solves the deposit problem. But
the deposit was never the whole problem. As a
cash buyer, I see the other end of Help to Buy
every week. Owners bought a new-build with a
Elliot Castle
CEO at We Buy Any Home
small deposit, then found it was worth less than
they paid once the new-build premium wore off.
The Government is under enormous pressure to
Many felt stuck, unable to move without taking
deliver its housing pledge, and developers need
a loss. A 2.5% deposit leaves almost no buffer
buyers to give them confidence to keep building.
against that. And because the scheme covers
This scheme helps both. But if the priority were
new-builds only, it risks propping up developer
simply helping first-time buyers overcome the
prices rather than improving affordability across
deposit barrier, why exclude someone buying an
the wider market.
existing home? A buyer’s need for help does not
My advice to brokers is simple. Test the price
against local resale comparables, not the
disappear because the property they want has
already been lived in.
developer’s own figures. Model the payments
The clearest winners from that restriction
for when the interest-free period ends. Then
are participating developers and a Government
ask your client how they would sell in five years.
trying to catch up with its target.
If the answer is unclear, the home is not yet
affordable.
Sir Vince Cable
former Lib Dem MP and Coalition
Government Minister
The Government openly describes boosting
housing supply as one of the scheme’s aims,
alongside helping people into homeownership.
Developers will be expected to contribute
towards its costs. Existing homeowners could
also lose out.
Directing supported buyers towards new
developments could leave sellers of existing
The Government’s proposed revival of a Help to
starter homes facing fewer enquiries, longer
Buy scheme is a step in the right direction but
waits or pressure to accept lower offers. An
not a solution to the housing crisis. The previous
owner selling a small flat or terrace may
scheme had its faults – namely increasing
need that first-time buyer to make their own
house prices and helping those who may not
move. Supporting one part of the market
have needed the help. Hopefully the household
while overlooking another risks leaving those
income cap and local property price cap will
chains stuck.
address these issues.
While it will get more houses built, this alone
will not deliver the Government’s target of 1.5
Building more homes matters, and this could
genuinely help some buyers. But Ministers
should not confuse boosting developers’
million new homes. We must also make better
sales with fixing the problems facing the
use of the homes we already have by helping
whole housing market. First-time buyers
older owners move out of under-occupied family
deserve choice.
October 2025 | The Intermediary
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