Getting a foot on the property ladder is an aspiration that dates back generations. Unfortunately, some mortgage myths are just as old. If you’re looking to buy in 2022, it’s important to know fact from fiction.

1. MYTH: You need a perfect credit rating

A bad credit history can have a negative impact on your mortgage application, but it doesn’t make getting a mortgage impossible. Indeed, there are specialist lenders who offer mortgages to people with less favourable credit histories.

2. MYTH: You can’t get a mortgage if you’re self-employed

It’s also a myth that being self-employed means you can’t get a mortgage. You might have to jump through a few extra hoops to prove your income, but with the rise of freelance and flexible work, many lenders are now better suited to assess different employment situations.

3. MYTH: You should choose a home before thinking about mortgages

The opposite is true! It’s a good idea to meet with us before finding your dream home. Securing an Agreement in Principle will speed things up once you have an offer accepted.

4. MYTH: You should always pick the lowest interest rate

Although it’s natural to focus on the headline figure, a low initial rate does not necessarily mean a cheaper mortgage. If you’re on a tracker mortgage, for example, the rate can rise at any time. So, a higher fixed rate might end up cheaper in the long term. Different fees can also come into play; we can weigh up your options.

5. MYTH: You need to get a mortgage from your current bank

There’s no obligation to get a mortgage from your current bank. In fact, it’s a good idea to compare multiple providers to find the best deal for your needs – that’s where we come in!

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We can help dispel myths at every stage of your mortgage journey. Our clear and transparent approach will help you find the most suitable mortgage for your circumstances.