Charlie Lamdin warns Your First Home buyers over price falls and rising equity loan costs

Created Oct 29, 2026 • AI-generated summary

Property Soup report (29 October 2026): Charlie Lamdin, founder of BestAgent, warns first-time buyers using the government's Your First Home scheme risk negative equity from day one due to the 2.5% minimum deposit, and will face extra costs when interest of 1.5% in year six and 3% from year seven begins on the 20% government equity loan (£75/£150 monthly on a £60,000 loan). He also predicts developer fees of up to 4% per sale will feed into new-build prices and criticises the scheme's restriction to new builds. Context: Chancellor John Healey's Autumn Budget 2026 confirmed £4.7bn funding targeting ~70,000 households in England, income caps of £110,000/£140,000; pre-registration before end of December, applications from February 2027, first purchases from April. Membership limited to coverage of this Lamdin warning.