Reasons why buyers delay mortgage applications UK 2011-2015 | Statista

This statistic gives an overview of issues that put people off applying for a mortgage in the United Kingdom (UK) according to 20 to 45 year olds surveyed in 2011 and 2015. It shows a slight increase in people worried that if they are rejected for one mortgage, it will damage their changes of being accepted for another.

Reasons why first-time buyers put off their mortgage application in the United Kingdom (UK) in 2011 and 2015

Characteristic	2011	2015
Job insecurity*	-	84%
Fear of possible interest rate rises*	-	82%
The general fear that its too risky getting a home at the moment because too many things could go wrong (interest rate rises, falling house prices, losing their job)	89%	81%
The belief that banks don’t want to lend to first time buyers at the moment and find excuses to turn them down	84%	79%
The fear that if they are rejected for one mortgage, it will damage their chances of being accepted for another one or by a different lender	74%	78%
A general perception that almost everyone is rejected by lenders so there is little point in applying	67%	70%
Not wanting to go through the stress and anxiety of applying for a mortgage	61%	69%
Being too scared of being turned down to apply	55%	65%
Hearing horror stories from friends or family about their mortgage applications	57%	64%
Fear of falling house prices*	-	59%

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Release date

April 2015

More information

Region

United Kingdom

Survey time period

2011 to 2015

Number of respondents

40,000*

Age group

20-45 years old

Supplementary notes

* The source indicates: "interviews with over 40,000 20-45 year olds built up over five years."
* Reasons listed as 'not applicable' in 2011.

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