UK estate and letting agents could see faster transactions through AI adoption but a clear trust gap risks slowing rollout according to new data from Cotality.
The global study found 75% of homebuyers expect AI to play a role in the homebuying process, with most assuming it is already embedded across key parts of the housing ecosystem – including agents, lenders and property portals.
For agents, the potential upside is significant. AI-driven workflows could cut mortgage processing times by one to three months, offering a route to faster completions at a time when transaction timelines remain stretched.
However, UK buyers remain more cautious than their counterparts in the US and Canada, particularly around accuracy, transparency and control.
CONFIDENCE BOOST
Buyer confidence in navigating the homebuying process has fallen from 83% to 72% over the past year, with younger buyers more likely to see AI as part of the solution. Half of Gen Z respondents said it would increase their confidence, compared with just 21% of Baby Boomers.
Despite this, tolerance for error is low. One in three global buyers take a zero-tolerance approach to mistakes in property listings, with UK buyers even less forgiving than those in the US.
EXPANDED CAPACITY
Amy Gromowski, Head of Data Science at Cotality, says: “Homebuyers want the speed and scale of AI – but not at the expense of certainty.
“With AI adoption accelerating the homebuying process in markets such as the United Kingdom, the United States, and Australia, over 7 million mortgages are originated annually – representing several trillion pounds in combined lending volume each year.
“If AI-powered workflows shorten time to close by just one to three months, lenders can pull forward billions in repayments, recycle capital more efficiently, and expand capacity without increasing headcount.”
SPEEDY HOMEBUYING
Transparency is emerging as a key battleground, with 68% of buyers calling for clear labelling where AI is used in property listings and mortgage recommendations, and 46% opposing automated valuations without prior approval.
Jim Driver (main picture, inset), Managing Director of Cotality UK, says: “AI offers a real opportunity to speed up the homebuying journey, cutting months from what is often a slow and complex process in the UK. However, UK buyers don’t want AI-driven efficiency at the expense of accuracy or accountability. By combining AI with expert human oversight, the market can deliver faster, more seamless transactions that will benefit both buyers and lenders.”
Concerns also extend to data quality, with 64% of buyers worried AI could recycle unverified information rather than rely on trusted data sources – raising compliance questions for agents integrating AI into their workflows.
HUMAN ELEMENT
More than 70% of UK buyers would still rely on a human when choosing a mortgage, with similar preferences for legal services and insurance.
Driver adds: “What the UK data shows is that buyers are clear on where they want AI involved – and where they don’t. While nearly three quarters of homebuyers globally want AI in the process, UK buyers still value human oversight.
“In a market where transactions are complex and drawn out, that’s understandable. The industry’s opportunity is to use AI to speed up administrative parts of the process, while keeping buyers in control.”
