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Mortgage Myths

Taking your first steps toward a mortgage and getting a foot on the property ladder can be an exciting time. However, it’s also important that you get the right information before you start your journey.

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Find the right information for you

Separating fact from fiction isn't always easy, especially with some of the mortgage myths out there. To ensure you're dealing with the truth, watch our short videos where our Sales Executive interviews an Independent financial advisor from Threshold Mortgage Advice to uncover the reality behind a handful of incorrect mortgage-related statements we hear most often.
Applying for a mortgageGeneral mortgage enquiriesDepositsMortgage termsMoving to the UKIndustry specificExpecting a baby

Get the facts on applying for a mortgage                   

There are some common assumptions about the process of applying for a mortgage based on myths they’ve heard. In this short video our Sales Executive asks an Independent Financial Advisor to dispel some of the most common myths about the process, including:

  • Can I get a mortgage if I am over 50?
  • If my partner is on maternity leave, will we need to wait to buy a house?
  • Do I need to have a perfect credit rating to get a mortgage?

Get answers to your general mortgage enquiries

Dealing with mortgages for the first time comes with its fair share of questions, especially given some of the myths our customers hear. In this short video, our Sales Executive and an Independent Financial Advisor set the record straight on some general mortgage enquiries, including:

  • Can I move my mortgage to purchase a new property?
  • Are mortgage payments more expensive than rent?
  • Can I change my product once the offer is issued?

Discover answers on deposit-related questions    

Mortgage myths can muddy the waters when it comes to deposits. In this short video, our Sales Executive asks an Independent Financial Advisor some common deposit-related questions, including:

  • Can I get a mortgage with a low deposit?
  • Can my parents help me buy a house?
  • Do I need a bigger deposit if I'm buying leasehold?

The truth about mortgage terms

Mortgage myths can create a lot of uncertainty when it comes to mortgage terms, especially as the market is constantly changing. In this short video, our Sales Executive quizzes an Independent Financial Advisor on some commonly occurring myths, including:

  • What is the longest mortgage term I can take?
  • Can you still get a 95% mortgage?
  • How much can I overpay on my mortgage?

Dispelling myths on mortgages when moving to the UK

When you move to the UK, there can be several questions about securing a mortgage. In this short video, our Sales Executive sets out the facts with an Independent Financial Advisor regarding mortgages for those who have recently moved to the UK, including:

  • How long does a buyer need to be in the UK before they can get a mortgage?
  • Do buyers new to the UK need a credit score?
  • Is the deposit affected if I'm not on indefinite leave to remain?

Answering questions on how your industry impacts mortgage options

Questions can arise regarding the industry you work in and whether it affects your chances of getting a mortgage. In this short video, our Sales Executive and an Independent Financial Advisor discuss how industry affects mortgage opportunities, including:

  • Can I get a mortgage if I get paid on a day rate and haven't been there long enough to submit tax returns?
  • Can I still get a mortgage if I've just started a new job?
  • What are my options if I'm self-employed?

Know what it means for mortgages when expecting a baby

The gift of a growing family can bring up some uncertainty for our customers when they’re looking to get a mortgage. In this short video, our Sales Executive and an Independent Financial Advisor dispel the myths about getting a mortgage when expecting a baby, including:

  • If I'm on maternity leave, will I have to wait until I return to work to buy a new home?
  • What do lenders consider when applying for a mortgage on maternity leave?
  • Can I apply for a mortgage when I'm pregnant?
A mortgage broker provides mortgage advisory services and is authorised and regulated by the Financial Conduct Authority. They work independently from Taylor Wimpey UK Limited. Taylor Wimpey does not engage in financial services activity and is not responsible for any information or advice provided to you by a mortgage advisor.