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

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

The data shows an overview of issues that put people off applying for a mortgage in the 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.

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

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

StatInvestor