On processing speed, 25% of respondents were very satisfied and 53% somewhat satisfied, while 16% were neutral and 5% dissatisfied.
The research by Boon Brokers also indicated differences by gender, age and location. Female respondents recorded faster timelines than male respondents across each stage measured. Older first-time buyers generally reported longer waits than younger participants, particularly among those aged 45 to 54 and those aged 65 and over.
By city, consultations were booked fastest in Bristol, AIPs were produced quickest in Birmingham, and full mortgage applications were submitted fastest in Sheffield. Birmingham-based respondents reported the most efficient overall service, measured by time from enquiry to offer.
“The research demonstrates a positive performance from mortgage brokers across the UK in guiding first-time buyers through their mortgage journey,” said Gerard Boon (pictured right), managing director at Boon Brokers. “At each stage of the process, brokers are delivering impressive speed, with many buyers progressing in just a few days to each milestone.
“From initial enquiry to application submission, most first-time buyers move quickly, highlighting the efficiency of mortgage brokers in managing documentation, liaising with lenders, and organising their cases. Nearly half of first-time buyers complete crucial early stages of the mortgage process within 48 hours, highlighting a responsive and proactive service.”