More than six in 10 first-time buyers surveyed by LPL say they have been gazumped during their homebuying journey, while a similar proportion report having a mortgage application rejected.
The First Time Buyer Anxiety Index 2026 found 62% of respondents had experienced gazumping and 62% a mortgage rejection.
Unexpected costs were even more widespread, reported by 71%, while 68% encountered delays involving solicitors.
Despite the problems, nine in 10 first-time buyers enter the process confident that they understand how buying a home works.
BUYER SHOCKS
LPL surveyed 500 first-time buyers in July, split evenly between people currently going through the buying process and those who had completed on their first home during the previous two years.
Some 66% reported encountering survey issues, while 63% said they had experienced a property purchase falling through.
A quarter of those who faced the challenges examined by the research said their mental health had been negatively affected.
Louise Stephens-Pantoja (main picture, inset), Head of Operations at LPL, says: “Getting onto the property ladder should be one of life’s most exciting milestones, but it is turning into a stressful ordeal for too many people.”
She adds: “What is clear from the report is that preparation, clear communication and access to professional guidance are helping buyers navigate the process with greater confidence.”
WAITING GAME
Waiting for other parties emerged as one of the biggest causes of anxiety during the transaction.
Anxiety peaked while waiting for completion, with 28% reporting it at this stage, although 31% still described themselves as excited.
Around one in five said their anxiety increased during surveys, conveyancing and obtaining a mortgage.
The research also found attitudes towards professional advice changed after buyers had completed.
Among those currently buying, family and friends and online articles were considered particularly helpful. Looking back after completion, estate agents were rated helpful by 40.8% and mortgage brokers by 40%.
Stephens-Pantoja says: “Every homebuyer’s journey is different and not everyone faces the same highs or bumps in the road.
“The best course of action to ensure you navigate the process as educated as possible is to speak and listen to the experts around you.”
