Access Financial Services reacts to new Your First Home scheme

28 September 2026

Karl Wilksinson, CEO and founder of Access Financial Services, said:

“The biggest hurdles facing fist-time buyers is usually the deposit, so any measures that helps reduce that initial barrier has the potential to bring more people into the market. A 2.5% deposit will certainly broaden the options available to some aspiring homeowners, particularly those without access to family support.

“Of course, the deposit is only part of the affordability equation. Buyers still need to understand what they can realistically afford, how the mortgage will fit alongside their wider finances and what taking on an equity loan means for them over the longer term.

“That is where good mortgage advice remains crucial. The new scheme adds another route into homeownership, rather than removing the need for borrowers to consider their options carefully. With the full eligibility criteria and mechanics still to be confirmed at the Budget, advisers will have an important role in helping first-time buyers understand whether this is genuinely the right route for them.”