Get the facts
straight.

Checking your credit score lowers it.

Checking your own score is a 'soft search', invisible to lenders and completely harmless. Only applications for credit (like a loan or credit card) create 'hard searches' that temporarily affect your score.

You need a perfect score to get a mortgage.

There is no single industry-wide minimum credit score for a UK mortgage, and each lender sets its own criteria. Many lenders will consider applications with fair or even poor scores, though the rates may be higher and you may need a larger deposit. A specialist broker can help.

Your partner's bad credit affects yours just by being married.

Credit files are individual. Marriage alone does not link your scores. You only become 'financially associated', and therefore affect each other's scores, if you take out a joint financial product, such as a joint bank account or joint mortgage.

There is one universal credit score that all lenders see.

Every CRA uses different data and different scales. Lenders also create their own internal scores when you apply. The number you see on Experian, Equifax, or TransUnion is a useful indicator, not the number lenders are working from.

Closing old credit cards will improve your score.

It often does the opposite. Closing an account reduces your total available credit, which can increase your utilisation ratio and shorten your credit history, both of which can lower your score. Only close accounts that carry a fee.

You need a 20% deposit to buy a home

0% and 5% deposit mortgage products are available. A larger deposit gives you access to more lenders and better rates.

The cheapest solicitor will save you money.

Conveyancing generates more complaints to the Legal Ombudsman than any other area of law. Rock bottom fees often mean higher caseloads, slower response times, and surprise charges later. The true cost of a poor conveyancer is measured in delays, missed deadlines, and stress.

All solicitors do the same thing, so it doesn't matter which one you choose.

The quality of service varies enormously. A proactive conveyancer will flag issues early, communicate regularly, and keep your purchase on track. A poor one can add weeks or months to the process.

The estate agent's recommended solicitor is always the best option.

Estate agents may receive a referral fee for recommending a particular firm. The recommendation may reflect the fee arrangement rather than the quality of service. Agents are legally required to disclose referral fees, so ask the question.

You can do your own conveyancing to save money.

Technically possible on a cash purchase with no mortgage. In practice, it is risky. Mortgage lenders will not release funds without a solicitor or licensed conveyancer acting on their behalf. Even on a cash purchase, the complexity of title checks, searches, and Land Registry requirements makes professional help strongly advisable.

"No move, no fee" means you pay nothing if the purchase fails.

These arrangements typically cover the solicitor's own legal fee only. You will usually still be liable for disbursements already incurred, such as search fees. Always read the terms carefully before relying on this protection.

Brokers are expensive middlemen.

The majority of UK mortgage brokers are fee free for the client, paid entirely by lender commission. Even those who charge a fee (typically £300 to £600) can save you far more through better rates and access to exclusive products.

You will get a better deal going directly to your bank.

Banks can only offer their own products. A whole of market broker compares across all lenders, including intermediary only deals that are not available to direct applicants. In many cases, broker sourced rates beat what the bank offers.

Fee free brokers give worse advice because they are paid by lenders.

FCA-regulated mortgage brokers are bound by the FCA's Consumer Duty rules, which require them to act in your best interest regardless of how they are paid. Commission levels are broadly similar across lenders, so the incentive to favour one over another is usually small. Check that any broker you use appears on the FCA Register.

You only need a broker if your situation is complicated.

Even straightforward first time buyer applications benefit from broker access. Exclusive rates, proper lender matching, and having someone manage the application process from start to finish adds value regardless of complexity.

Once you choose a broker, you are locked in.

You are free to withdraw from a broker's services at any time. Check whether any fees already paid are refundable, and be aware that switching mid application may cause delays, but you are never obligated to continue.

Once your offer is accepted, the property is yours.

An accepted offer is not legally binding. Either party can withdraw at any point before exchange of contracts without financial penalty. Only exchange makes the commitment legally enforceable.

The mortgage valuation is the same as a survey.

A mortgage valuation is a basic check carried out for the lender's benefit. It confirms the property is worth the loan amount. It does not assess the property's condition, and the lender is under no obligation to share the full findings with you.

You do not need buildings insurance until you move in.

You need buildings insurance from the date of exchange, not completion. From exchange, the risk transfers to you. Your mortgage lender will require proof of cover before exchange can proceed.

If the survey finds problems, you should pull out.

Survey findings are information, not a verdict. Many issues can be resolved through price renegotiation, seller repairs, or by factoring the cost into your plans. Only severe structural or legal issues that cannot be resolved should prompt withdrawal.

Completion always happens on the day contracts are exchanged.

Exchange and completion are separate events. They can happen on the same day (known as a simultaneous exchange and completion), but it is more common for there to be a gap of one to four weeks between them.

You should switch all utilities immediately for better deals

Focus on setting up accounts and providing meter readings first. You need to know your actual usage patterns before you can meaningfully compare deals. Wait until you have at least one month's usage data, then compare and switch if it makes sense.

The seller is responsible for any problems found after completion

Once completion has taken place, the property is yours. The legal principle is caveat emptor (buyer beware). Your recourse is limited unless the seller actively concealed a defect or misrepresented something in the property information form. This is why the snagging inspection and day one documentation are so important.

You do not need contents insurance if you have buildings insurance

Buildings insurance covers the structure. Contents insurance covers your belongings: furniture, electronics, clothing, and personal items. They are completely separate policies. Your mortgage lender requires buildings insurance but not contents insurance, though contents cover is strongly recommended.

Council tax is automatically set up when you buy a property

You must contact your local council and register. Council tax does not transfer automatically from the previous owner. If you do not register, you may face a backdated bill plus potential penalties.

Ground rent on a leasehold flat is always a small, fixed amount

Ground rent terms vary enormously between leases. Some are fixed at a nominal amount, others escalate with inflation, and some older leases contain doubling clauses that can make the property difficult to sell or mortgage. Check your lease carefully. The government has proposed capping ground rent at £250 per year (January 2026), but this is not yet law.

You own the boundary fence on the left side of your property

This is a common myth with no basis in law. Boundary responsibility is determined by the title deeds and the T marks on the title plan, not by any left or right convention. Your solicitor should have explained your boundary responsibilities in their report on title.

If it is not broken, do not fix it.

Preventative maintenance is significantly cheaper than emergency repairs. An annual boiler service costs £80 to £150. A replacement boiler costs £1,800 to £4,500. A blocked gutter that goes uncleared for a year can cause hundreds or thousands of pounds of damp damage to internal walls and ceilings.

You can do your own gas work if you are careful.

It is illegal for anyone who is not on the Gas Safe Register to carry out any gas work. This includes servicing, repairing, and installing gas appliances. It is also extremely dangerous. Poorly installed or maintained gas appliances can cause carbon monoxide poisoning and explosions.

An electrical inspection (EICR) is only required for rented properties.

Landlords are legally required to have an EICR every 5 years. For homeowners, it is not a legal requirement but is strongly recommended every 10 years, or sooner for older properties or after major alterations. An EICR identifies faults that could cause fires or electric shocks.

Closing trickle vents on windows saves energy.

Trickle vents provide essential background ventilation. Closing them traps moisture inside your home, leading to condensation, damp, and mould. The small amount of heat lost through trickle vents is negligible compared to the cost of treating mould damage.

Mould is just a cosmetic problem you can paint over.

Mould is a health hazard. It can cause respiratory problems, allergic reactions, and asthma attacks, particularly in children and elderly people. Painting over mould does not kill it. You must identify and fix the underlying cause (usually poor ventilation, inadequate heating, or a leak) and then treat the mould properly before redecorating.

You only need to bleed radiators when they stop working.

Bleed radiators whenever they have cold spots at the top (while the bottom is warm). Trapped air reduces efficiency, meaning your boiler works harder and your energy bills increase. Bleeding radiators is a simple 2 minute task with a radiator key.

Taking in a lodger is risky and complicated.

With proper screening, a written agreement, and clear house rules, lodging arrangements work well for millions of people in the UK. A lodger has very limited legal rights compared to a tenant, and you can ask them to leave with reasonable notice (typically 28 days) without going to court.

You need to pay tax on all lodger income.

Under the Rent a Room scheme, lodger income up to £7,500 per year is completely tax free. If you earn under this threshold and do not otherwise file a tax return, the exemption is automatic and you do not need to tell HMRC.

Your mortgage company will not allow a lodger.

Most residential mortgages permit lodgers without requiring permission. Some ask you to notify them. Very few prohibit lodgers entirely. Check your terms, but do not assume the answer is no.

Lodger income counts against Universal Credit.

Income from a lodger under the Rent a Room scheme (up to £7,500 per year) is not counted as income for Universal Credit purposes. This makes it a particularly valuable income option for UC claimants.

You can run any business from home without permission.

You do not need planning permission for most small-scale home businesses that do not change the character of your property. However, you may need specific licences (childminding, animal care, food preparation), your mortgage lender's consent, updated insurance, and permission from your freeholder if you are in a leasehold property.

Renting out a parking space is not worth the hassle.

Parking spaces near stations, hospitals, and town centres can earn £50 to £200+ per month with almost no effort. Platforms like JustPark handle the bookings and payments. Income up to £1,000 per year from all property sources is tax free under the property income allowance.

You need planning permission to install an EV charger at home.

Planning permission is generally not required for a standard domestic EV charger installation under permitted development rights (updated May 2025). The work does need to comply with Building Regulations Part P, but a competent-person-scheme registered installer can self-certify this.

95% mortgages are only available temporarily.

The Freedom to Buy scheme, launched in July 2025, permanently guarantees the availability of 95% loan to value mortgages. Unlike previous temporary schemes, it has no end date.

Help to Buy is still available for new buyers.

The Help to Buy Equity Loan scheme closed to new applicants in October 2022 and ended entirely in March 2023. It is no longer available. Existing borrowers still need to manage their equity loans and plan for repayment.

Shared ownership is always cheaper than renting.

When you add together mortgage repayments, rent on the unowned share, service charges, and maintenance costs, shared ownership can sometimes cost more than renting privately. Always calculate the full monthly cost before committing.

First Homes is the same as shared ownership.

They are fundamentally different. First Homes gives you full ownership of the property at a discounted price, with no rent to pay. Shared ownership means you buy a share and pay rent on the rest. The discount on a First Home is passed to all future buyers permanently.

Right to Buy discounts are still up to 70%.

Since November 2024, discount caps have been reduced to regional levels between £16,000 and £38,000. Proposed reforms will reduce percentage discounts further to a maximum of 15%, though these are not yet law.

Key worker mortgages are a single government scheme.

They are not. Key worker mortgages are products offered by individual lenders, each with their own definition of "key worker" and their own terms. There is no central government application process.

Only NHS staff qualify for key worker mortgages.

Most lenders include teachers, police, firefighters, prison officers, social and care workers, armed forces personnel and local authority employees. Some also include certain transport workers. Always check each lender's definition.

Renting is always throwing money away.

Renting provides flexibility and zero maintenance costs. Total homeownership costs often exceed rent once you factor in repairs, insurance, and interest.

You need a 20% deposit to buy.

Many lenders offer 90% or even 95% mortgages. A 5% deposit is enough to get started, though a larger deposit unlocks better rates.

The mortgage payment is your only housing cost.

Insurance, council tax, maintenance, service charges, and utilities all add up. Budget for the full picture, not just the mortgage.

You should always buy as much house as the bank will lend you.

Borrowing the maximum stretches your finances thin. Leave room for emergencies, rate rises, and life changes.

You absolutely need a 10 to 20% deposit to buy.

95% and even 100% mortgages exist. The Skipton Track Record product requires no deposit at all for qualifying renters.

A gifted deposit is 'cheating' and lenders frown on it.

Gifted deposits are perfectly normal and accepted by the vast majority of lenders. You just need a signed gift letter and proof of the source of funds.

If your parents go guarantor they automatically own part of the house.

With a guarantor mortgage or JBSP arrangement, family members are on the mortgage but not on the deeds. You own 100% of the property.

There is no government help left for first time buyers.

The Lifetime ISA, Shared Ownership, First Homes, Mortgage Guarantee Scheme, and various regional programmes are all still available.

You can't get a mortgage after 60.

You can. High street lenders will typically run terms to age 70 or 75, and later-life specialists will go to 80, 85 or, on retirement interest-only, have no upper age limit. The question is term and evidenced income, not age.

You need three years of accounts to get a mortgage.

Most mainstream lenders require two years. Some specialist lenders accept just one year of accounts, particularly for contractors with strong day rates and a solid contract history.

Gig economy workers can't get mortgages.

With 12 or more months of consistent earnings history, filed tax returns, and proper documentation, gig workers can access mortgages through specialist lenders.

Being inside IR35 means you can't get a mortgage.

IR35 status does not prevent you from getting a mortgage. Specialist lenders assess your gross contract value regardless of whether you are inside or outside IR35.

You need a huge deposit if you're self-employed.

Self-employed borrowers can access 95% LTV mortgages (5% deposit) just like employed applicants. However, a 10 to 15% deposit opens up more lender options and better rates.

Your accountant's word is enough proof of income.

An accountant's certificate can support your application, but lenders require formal documents: SA302s, tax year overviews, and certified accounts. An accountant's reference alone is not sufficient.

Developer schemes are only for first-time buyers.

Several schemes are open to all eligible purchasers. Own New Rate Reducer, Deposit Boost and Rezide Equity Loan all accept home movers as well as first-time buyers. Bank of Family is first-time buyer only.

Developer incentive schemes are too good to be true.

Developers offer these incentives because they help sell new build properties. The terms are legitimate, but always read the fine print. Understand what you are giving up (such as the option to negotiate a price reduction instead) and any ongoing obligations (such as Rezide's 4% interest).

Developer key worker deposit contributions are only for NHS staff.

The Key Worker Deposit Contribution covers a broad range of essential professions including teachers, police, fire service, local authority workers, social workers, prison and probation services, foster carers, RNLI, and military personnel, among others.

The Rezide Equity Loan is interest free like Help to Buy was.

Unlike Help to Buy (which was interest free for the first 5 years), Rezide charges a fixed 4% interest from day one. Budget for these ongoing payments from the start. The loan is also non amortising and adjusts with your property's value.

Own New Rate Reducer saves me money guaranteed.

The reduced rate only lasts for the initial 2 or 5 year fixed period. After that, standard rates apply. If the developer would have offered you a price reduction instead, a lower purchase price and smaller mortgage could save more over the full mortgage term. Always compare both options.

New build properties are always worth more than you pay.

New builds can carry a price premium compared to equivalent older properties. Always get an independent valuation and compare with similar homes in the area before committing, regardless of which scheme you use.

A new build with a headline rate below 2% must be the cheapest home I can buy.

A very low advertised rate on a new build usually comes from a developer incentive paid to the lender for the initial fixed period only. Once that period ends you are back on open market rates, and the new build itself may have cost more than an equivalent older home. Compare total cost over five and ten years, not the headline rate.

My landlord has to sell to me because I am the tenant.

A private landlord has no legal obligation to sell to you, and certainly not at a discount. Unless you have a statutory right such as Right to Buy, the sale is entirely voluntary on both sides.

Buying from my landlord means I can skip the survey and searches.

You should not skip any of the normal legal checks. A lender will require a valuation, and a solicitor will require searches. Even if you know the property well, you may not know what is in the land registry records, the local authority plans, or the roof space.

I will automatically get a discount because there is no estate agent.

There is no automatic discount. Some landlords pass on the saving from estate agent fees; others expect full market value. Everything is negotiable, but nothing is guaranteed.

A private treaty sale is faster because we already know each other.

It can be faster, but only if both sides are organised. Mortgages, solicitors, searches and surveys still take time. The personal relationship can actually slow things down if decisions are made informally and then have to be unpicked.

I do not need a solicitor if the landlord and I agree on everything.

You always need an independent solicitor for a property purchase. They protect your legal interest, check title, handle the transfer of funds, and make sure you actually own what you think you are buying.

Buying from your landlord is the only route Tenant 2 Owner covers.

Private treaty is just one of many routes we cover. Tenant 2 Owner is about helping renters become owners by whatever route fits their circumstances, whether that is saving a deposit, using a scheme, buying from a landlord, or something else entirely.

A 0.5% mortgage rate means the home is cheaper.

The price is unchanged. The builder has redirected an incentive to your lender. The same money taken off the purchase price would give you a smaller mortgage for the whole term.

With Own New Rate Reducer, the low rate lasts for the life of the mortgage.

It lasts for the initial two or five year fixed period only. After that you revert to the standard variable rate unless you remortgage.

A lower rate means I can borrow more.

Affordability is stress tested at the full rate, so your maximum borrowing is unchanged.

A developer deposit contribution is free money.

It comes from the incentive budget on that plot. You are usually choosing between the contribution and something else of similar value, such as a price reduction.

Any lender will accept a developer deposit.

Vendor gifted deposits are accepted only by some lenders, and often with limits. Check before you reserve, not after.

No deposit means no cash needed.

You still need money for legal fees, searches, survey, removals and any stamp duty. Work out the full figure before you start viewing.

Paying rent on time automatically qualifies me for a Track Record 100% mortgage.

The lender also checks your credit file, your household bill history, the property type and its own affordability rules. A clean rent record is necessary, not sufficient.

A 100% mortgage is always better than waiting to save.

Sometimes it is, sometimes it is not. No deposit means no equity buffer and a higher rate. Compare it honestly with saving a 5% deposit first.