Most first-time buyers do not understand mortgage process
October 26, 2025 by Brendan O'Neill
Property Market
Surveys and Statistics
The vast majority of people looking to buy for the first time do not have a clear understanding of the purchase process, according to a new survey that has been published.
This survey found that just one-eighth of first-time buyers felt they had a real understanding of what is involved. Meanwhile, 32% said that they understood most of the purchasing process, while 42% stated that they had some grasp of it. The survey was carried out by Lloyds Banking Group, and 2,000 people who are trying to buy a first home took part in it.
When it comes to which parts of the process they struggle to understand, conveyancing and other legal issues came out on top. They were cited by 29% of the respondents. A further 22% said that it was the mortgage part of the process that they were most unsure about.
Another part of the purchasing process that was named as a concern was finding a suitable home, which was cited by 12%. Only 4% of the people who took part in the survey said that they felt sure about every stage.
The participants were also asked whether they would be willing to seek professional advice. In response, 65% said that they would be, while just 19% said that they would not.
Amanda Bryden from Lloyds Banking Group told Mortgage Solutions that:
“With the right support, taking that first step onto the property ladder becomes much more manageable.”
This situation could represent an opportunity for advisors with CeMAP training.
Written by
Brendan O'Neill
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