Issues that put first-time buyers off applying for a mortgage in the UK 2011-2015

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

by Statista Research Department, last edited Apr 7, 2015
Issues that put first-time buyers off applying for a mortgage in the UK 2011-2015 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.
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Reasons why first-time buyers put off their mortgage application in the United Kingdom (UK) in 2011 and 2015

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20112015
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 down84%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 lender74%78%
A general perception that almost everyone is rejected by lenders so there is little point in applying67%70%
Not wanting to go through the stress and anxiety of applying for a mortgage61%69%
Being too scared of being turned down to apply55%65%
Hearing horror stories from friends or family about their mortgage applications57%64%
Fear of falling house prices*-59%
20112015
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 down84%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 lender74%78%
A general perception that almost everyone is rejected by lenders so there is little point in applying67%70%
Not wanting to go through the stress and anxiety of applying for a mortgage61%69%
Being too scared of being turned down to apply55%65%
Hearing horror stories from friends or family about their mortgage applications57%64%
Fear of falling house prices*-59%
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by Statista Research Department, last edited Apr 7, 2015
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.
Show more
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Statistics on "First time home buyers in the United Kingdom (UK)"
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