Budget Response: Susan Allen, Chief Executive at Yorkshire Building Society

28 October 2026

Commenting on today’s Budget, Susan Allen, Chief Executive at Yorkshire Building Society said:

"It’s good to see confirmation of the Government’s commitment to Your First Home, backed by £4.7 billion of government-supported lending. Our No Way Home? report found just 11% of renters aged 20 to 44 are in a position to buy, so this change could help many aspiring homeowners. As the Government works through the detail, we would encourage it to consider extending the scheme beyond new-build homes to include existing and repurposed properties, giving buyers greater choice and helping the wider housing ladder move."

“The announcement of a new First-Time Buyer ISA is also welcome. Our research found that 31% of future homeowners don’t currently have enough saved for a deposit, so a dedicated savings product could help more people build up the deposit they need and take their first step onto the housing ladder.

“We also welcome the decision to maintain the Cash ISA allowance at £20,000. Cash ISAs play an important role in helping millions of people build financial security through a simple, accessible and tax-efficient way to save. They remain hugely popular with savers, particularly those putting money aside for a first home or a rainy day. Maintaining the current allowance provides certainty and choice for consumers, while the savings held in Cash ISAs support the funding building societies use to help more people achieve homeownership.

“Together, these measures are a positive step for aspiring homeowners and savers. We will keep working with the Government on practical changes that help people save, own a home and get the housing ladder moving.”