UK Mortgage Market Surveys

orchard reports

IRN Research have released three consumer research reports on the UK mortgage market – Improving the Mortgage Customer Journey, First-Time Buyer Mortgages and Existing Mortgage Holder Mortgages. All three reports provide crucial insights into the current mind-set of individuals who currently own a mortgage, have just taken out a mortgage or are planning to take out a new mortgage product over the coming three years. Mortgage Customer Journey focuses on how all individuals navigate their journey to take out a mortgage and where improvements can be made, First-Time Buyer Mortgages focuses strongly on individuals who have recently purchased their first homes with a mortgage and the problems specific to them when they take out a mortgage, and Existing Mortgage Holders concentrates on individuals who already have a mortgage and may or may not be planning to take out a new mortgage soon and how mortgage providers should target these individuals.

Headlines from three surveys include:

• Mortgage providers have a prime sales window of 20 years (mainly from age 30 to 50) in which to sell their products: 38% of Existing Mortgage Holders (EMHs) aged 18-30 plan to move home in the next three years (but only 11% of EMHs age 55+) and 40% plan to remortgage (only 12% of EMHs aged 55+).

• EMHs may have experience of arranging a mortgage but that doesn’t mean they won’t make mistakes when arranging a new mortgage. In particular, 13% of EMHs have only Selective or Moderate Understanding of the mortgage customer journey but decide not to get professional help when taking out a mortgage. It is these individuals who are likely to cause mortgage lenders/brokers and conveyancers the most problems and are likely to cause a much higher percentage of the delays experienced and frustrations felt by the main mortgage parties than their share of EMHs suggests.

• 80% of consumers who have recently taken out a mortgage faced at least one problem when moving through their customer journey, with 47% experiencing problems finding a provider/mortgage deal and 34% facing problems when dealing with the documentation and paperwork.

• 50% of mortgages holders aged 55+ encountered age-related problems when they last arranged a mortgage

• 64% of FTBs indicated that it had proved/it is proving difficult to buy their first home, peaking at 78% for individuals planning to purchase their first home soon.

• 58% of FTBs who had purchased a home within the past two years or who are set to buy their first home soon said they had or will be using a Government help to purchase scheme.

• …………and there is much more analysis and more results from over 40 questions asked in each survey. To see detailed Contents Pages and descriptions on each report visit

The mortgage reports and the detailed dataset of all survey results with a demographic analysis is available directly from IRN Research, priced at £2,500 (plus VAT) each.
Discounts for multiple report purchases, report only, dataset only, or purchases of extracts.

Through the year, other Consumer Research reports on financial service topics will be published, including Buy-to-let mortgages, landlords, pensions, investments and savings, and banking. The discounted annual subscription to all reports is £16,250 plus VAT, plus there are discounts for purchasing only selected groups of titles.

IRN Research (trading name of IRN Consultants Ltd)
Established in 1991, IRN Research is a research agency with a focus on the legal services market. We offer a range of research services to law firms and suppliers to the sector. Services include client surveys, market studies, competitor intelligence, industry reports, and strategic studies.

Orchard Reports is a new series of reports from IRN Research covering the financial services sector. The series combines IRN Research’s established Market Reports series with a new series of Consumer Research Reports: The new series complements our existing series by offering results and analysis from detailed proprietary consumer research.

Consumer Research Reports – based on detailed analysis of results from surveys of between 500 and 2,000 consumers (depending on topic). Each survey has around 40 questions.

Market Reports – each report contains market size & trends; sector structure and supplier profiles; key market developments and issues; market drivers and obstacles; future trends and forecasts.

For further information, contact Gary Giddings on +44(0)7970 829751 or