Autumn Budget and Shared Ownership: What it means for first time buyers
The Autumn Budget presents a mixed outlook for first time buyers, renters and landlords. With no changes to Stamp Duty, first time buyers at least benefit from certainty – existing thresholds and reliefs remain in place, keeping upfront costs steady.
Renters see no direct support or rent-specific measures, but with landlords facing increased taxation on rental income, some of those costs may inevitably be passed on, potentially nudging rents upward over time. This could in turn have an impact on people’s ability to save for a deposit.
Landlords, meanwhile, are the most affected: from April 2027, property rental income tax rises by 2% across the basic, higher and additional rate bands, and from April 2028.
In addition to the above a new high-value property surcharge (“mansion tax”) will apply to homes worth over £2 million.
That said, there are encouraging signs for aspiring homeowners. Over the past year, lenders have launched innovative products aimed at easing the path to home ownership – including 100% mortgages and other initiatives supporting low-deposit buyers. We’ve also seen a welcome loosening of affordability constraints following the relaxation of loan-to-income rules, allowing some buyers to borrow more.
These can help some people, but they are not suitable – or available – for everyone. This is where Shared Ownership can offer a more realistic and flexible way forward.
What is Shared Ownership?
Shared Ownership is a government-backed affordable home ownership scheme that lets you:
- Buy a share of a property.
- Pay rent on the remaining share.
You can start with as little as a 10% share. Your deposit is based on the share you purchase, not on the full value of the property.
Over time, you can choose to buy additional shares – a process known as staircasing – until you own a larger share of the property or, in some schemes, the whole property.
For first time buyers, this can be a practical way to move into a home of your own sooner, rather than waiting until you can afford to buy outright.
Key benefits of Shared Ownership for first time buyers
A Shared Ownership mortgage can offer several advantages:
- Lower initial deposit
Your deposit is calculated on your share of the property, not the full purchase price. - Smaller initial mortgage
Because you are only buying a share, the mortgage you need is smaller. This can help with passing lenders’ affordability checks. - A clear route to build equity
As you pay down your mortgage and staircase over time, you increase your share and build your own equity.
Instead of seeing all your monthly housing payment go towards a landlord’s rising costs, part of what you pay each month goes into your own mortgage and your own stake in a home.
How Just Mortgages supports first time buyers
At Just Mortgages, we know that buying your first home is a big milestone – and that Shared Ownership can feel more complicated than a standard purchase.
Our advisors work with first time buyers every day. We understand the worries that come with rising rents, higher living costs and the challenge of pulling together a deposit.
We can:
- Explain how Shared Ownership works in clear, straightforward language.
- Look at your income, deposit and regular spending to assess what you can realistically afford.
- Talk you through how staircasing might work for you in future.
- Help you compare Shared Ownership mortgages with other first time buyer options.
We also keep up to date with changes from Budgets, lenders and regulators, so we can explain what the latest announcements may mean for someone in your position. Our aim is to turn a complicated UK mortgage market into clear, practical choices that align with your goals.
Ready to explore Shared Ownership with Just Mortgages?
If you are currently renting, worried about future rent rises or struggling to see how you will ever save a full deposit, Shared Ownership could offer a more achievable way to get on the property ladder.
By starting with a smaller share and building up over time, you can begin turning your monthly housing costs into a stake in a home of your own.
To find out whether a Shared Ownership mortgage with Just Mortgages could be right for you, speak to one of our advisors. We will take the time to understand your circumstances and help you explore your options, so you can make a confident decision about your next step towards owning your first home.
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Just Mortgages is a trading name of Just Mortgages Direct Ltd which is an appointed representative of The Openwork Partnership, a trading style of Openwork Limited which is authorised and regulated by the Financial Conduct Authority.
Approved by The Openwork Partnership on 17/12/2025
By John Doughty, Managing Director, Just Mortgages
