Research from PRIMIS already indicated that 60% of surveyed ARs felt pessimistic about the Budget’s impact on the housing market, especially on the BTL sector.

Despite this, not all within the specialist finance sector feel the Budget will prove to be such a dark affair.

“The sector remains in very good shape, and such has been the recovery in recent months,” said Jonathan Samuels, CEO at Octane Capital. “There’s no real need for any government intervention via the Autumn Statement.

“As a result, there seems to be very little on the cards [today] that will either halt, or accelerate, the improving health of the sector directly.”

Jonathan claimed the lending space had benefitted from greater stability after a base rate hold followed by cuts, despite a rise in swap rates as a result of loosening borrowing rules having “spooked the gilt market slightly” in recent months.

“It’s widely expected that once the Budget dust has settled, it should dampen any fears and drive swap rates back down, further fuelling market momentum over the final quarter of this year and into 2025 — although it remains a delicate balancing act,” he continued.

Potential rises in capital gains tax may unnerve some investors, with changes expected to impact second homeowners, according to Jonathan, however if this affects asset disposers this could also boost the equity release space, he added.

Jonathan continued: “If no extension is granted with respect to current stamp duty relief thresholds, this could cause hesitation, however it certainly won’t deter homebuyers or investors fully, and so the outlook remains a positive one.”

Justin Trowse, head of bridging at Allica, said the bank wants to see the Budget give more attention to the SME sector.

“So far, they’ve received minimal attention, and it’s our hope that this an opportunity for the government to show they’re serious about making sure the SME agenda doesn’t get lost in the fray and that politicians are aware of the scale of the challenge ahead,” commented Justin.

Allica is also looking out for details on tightening EPC rules and the introduction of grant and tax reliefs, as well as strategies to reaching housebuilding targets, such as easing restrictions and encouraging brownfield developments.

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Justin too noted the reduction of economic pressures and “the labour market softening up”, however he continued: “We all know the answer to the UK’s long-term economic strength is in further large-scale investment across the economy to help generate higher and sustained growth — and that requires strong levels of business confidence, which has been improving, but remains patchy in many areas.”

Justin added: “It’s a difficult balancing act the government has to pull off —  having to plug the deficit in the short-term and decide where the tax burden for doing so falls — while ensuring they continue to build confidence among investors and business to invest now for the long-term.”

Matthew Martin, director at Align Property Finance, is also keen to see how the government will implement its annual 370,000 homes target, including how it will tackle planning, labour shortages and skills gaps, rising material and financial costs, as well as S106 and CIL payments.

Matthew highlighted certain professionals who would be particularly anticipating the upcoming Budget: “Landlords and property investors are bracing themselves as murmurings over the past few days regarding ‘working people’ and how incomes are derived could be targeting them.

“The focus on increasing private rental tenants’ rights will be something to keep an eye on which, rightly or wrongly, will impact professional landlords.”

Matthew continued: “While not specifically Budget related, [and] with inflation seemingly being back under control and below the BoE’s 2% target, the hope for base rate reductions and therefore cheaper money is increasing, and this can only be a good thing for investment.”

The unfamiliarity of a Labour Budget after years of Conservative fiscal policy has also been felt by Karen Rodrigues, head of sales at Market Financial Solutions.

She feels the aftereffects of the Budget will add a layer of complexity to the market but, in her eyes, this is something the specialist finance was “primed to help with”.

“Property investors will be looking for unique solutions to new, tricky realities, and bridging and bespoke BTL mortgages may offer just that,” she explained.

Despite the specialist finance market’s resilience and expertise on complexity, Karen hoped for clarity.

“We’ve seen plenty of legislation and plans pitched, only to be tweaked, pulled back, or otherwise cancelled entirely in recent years, good news or bad — we need to know where we stand.”

Until the Budget is finally revealed this afternoon, the financial decision making of Keir Starmer’s government remains a guessing game.

“All-in-all, it doesn’t appear that anyone is going into [today’s] Budget in [a] particularly bullish mood,” stated Matthew, “and the general market sentiment seems to be one of a collective holding of breath.”