Busting FTB myths: a guide for brokers

Many people who want to buy a home may not move forward simply because of (outdated) things they’ve heard from family or friends. As a broker, you’ve likely seen how easily misinformation can delay or derail a potential buyer’s journey.

In this blog, we’ll look at common myths first-time buyers tend to believe, along with straightforward ways to address them in your daily conversations, marketing, or events. You’ll also find ideas for turning myth-busting into a valuable way to attract and support new leads.

Four myths that hold buyers back

Myth 1: “You can’t buy a home without a big deposit”

This is one of the most widespread assumptions, and it stops a lot of renters from even exploring their options. In reality, many buyers get started with a 5% deposit, and schemes designed to support lower deposits are still available - such as the Mortgage Guarantee and Shared Ownership schemes. A quick chat or simple explainer post could be all it takes to shift someone’s mindset.

Myth 2: “Being self-employed makes it impossible to get a mortgage”

It’s true that self-employed clients often need to show more documentation, but they’re far from excluded. Let clients know that lenders are used to working with freelancers and business owners, and that income from self-employment can absolutely support an application when backed up with solid records.

Myth 3: “One bad credit score means I won’t get approved”

Lots of potential buyers assume it’s all about the credit score and if theirs isn’t perfect, they don’t stand a chance. In practice, lenders look at a much wider picture: income, spending habits, recent behaviour, and overall affordability. Reassure them that their credit history doesn’t have to define their outcome.

Myth 4: “Renting is cheaper than buying”

At first glance, renting may seem more affordable, but it doesn’t build equity or offer long-term security. Use simple comparisons to show how mortgage payments can be competitive with rent, especially in areas where rental costs are high. Framing ownership as a way to invest in the future often resonates.

Ways to use myth-busting in your day-to-day work

1. Make it part of early client discussions

Rather than diving straight into products and paperwork, start by asking what buyers think the process involves. Their answers can reveal helpful starting points, and position you as someone who listens before advising.

2. Create quick, useful content around common myths

Use common misconceptions as content hooks. You can create concise videos,  social media carousels, or frequently asked questions to debunk common misconceptions around the homebuying process. Structure the content based on real client questions, keeping the tone friendly and approachable.

3. Offer a free resource that clears up confusion

To both educate your audience and expand your contact list, consider offering downloadable guides or checklists that address prevalent misconceptions. For instance, an effective lead magnet could be titled, “How to save smarter on your first home.”

4. Run informal sessions for curious buyers

Consider hosting a short webinar, Instagram Live or in-person workshop to tackle common questions. These events can be low-pressure spaces where buyers feel safe asking what they might consider silly questions. 

Why myth-busting works

Clearing up misconceptions helps remove the doubts and fears that often prevent buyers from taking the next step. When you provide clear, judgement-free advice, clients feel more supported and more confident in their ability to move forward.

Being known as the broker who clarifies, rather than complicates, is a powerful way to build your reputation and client base.

Want more resources like this?

Explore our First-Time Buyer Hub for free tools, guides and educational content to support your clients from first enquiry to completion.