First-Time Buyer Mortgage Myths Debunked | Leeds News

Leeds News Today | 2 Min News | The Daily News Now! · Aug 22, 2026 · 2m

New research from Lloyds Bank reveals that first-time buyers are often misinformed about mortgage eligibility, with many wrongly believing existing debt, small deposits, or even being in an overdraft automatically disqualify them. In reality, lenders assess the full financial picture — and while these factors aren’t automatic deal-breakers, each application is evaluated individually. The stress of uncertainty is real: over a third of potential buyers fear rejection, and half have delayed major life events like travel, car purchases, or even marriage while saving for a home. To help, Lloyds…