First-time buyers are the lifeblood of the property market. They spark activity, fuel liquidity, and breathe new energy into the industry. Helping them onto the property ladder doesn’t just transform their lives—it benefits everyone.

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But here’s the problem – wide spread misconceptions are holding them back.

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The latest Pepper Money Specialist Lending Study has revealed just how big these knowledge gaps are and why brokers are perfectly placed to help.
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The deposit myth

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Do you think first-time buyers need enormous deposits? So do they.

The study shows that nearly 70% of non-homeowners want to buy a home, yet 22% think it will take them over fiveyears to save up, and 36% believe they’ll never afford one.

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What’s the biggest hurdle to getting on the ladder? Saving for a deposit, according to 32% of respondents. Even worse,32% don’t know how much they need, and another 32% assume it’s at least 20%.

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The truth?

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There are plenty of high LTV mortgages and affordable schemes that could help them buy with far less. But these misconceptions stop people from even trying. That’s where brokers come in.

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Brokers: myth-busters and market makers

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Brokers have the power to address these myths head-on, giving first-time buyers the confidence they need to act on their dreams. By educating potential customers about the variety of low-deposit mortgage products and lenders that can consider customer circumstances that don’t meet the high street and home ownership schemes. Brokers can unlock opportunities and create a surge of new buyers.

It’s not just about helping individuals. It’s about revitalising the entire market.

Affordable Homeownership schemes: Hidden gems

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Help to Buy may be behind us, but schemes like Shared Ownership, First Homes, and, of course, Right to Buy are potential game-changers for first-time buyers. Yet many don’t know they exist, and even when they do, misconceptions about eligibility can still hold them back.

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Take Shared Ownership the most supported and advertised homeownership schemes. Did you know 15% of respondents were hesitant due to a lack of understanding. Whilst the biggest concern was the idea that they won’t own the whole of the home (22%).

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This lack of understanding creates a golden opportunity for brokers. By promoting these schemes and clarifying the fine print, brokers can help more customers get onto the property ladder.
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Unlocking potential: The broker’s edge

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Demand for homeownership is strong, but misinformation keeps potential buyers stuck on the sidelines. Brokers who tackle these myths head-on can:

• Empower buyers to act on their dreams.
• Establish themselves as trusted experts.
• Grow their business by tapping into a wider audience.
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Smaller deposits, AffordableHomeownership schemes, and clear guidance are all within reach. Brokers who deliver this knowledge aren’t just helping customers—they’re driving the market forward.

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‍Take action now

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‍The property market is full of hopeful homeowners, held back by misconceptions. Brokers have the insights and tools to set them free. By educating and inspiring these buyers, we can break down barriers and create a brighter future for everyone.


Explore the full Pepper Money Specialist Lending Study for more insights and data.