Report reveals significant share of prospective buyers turning to online searches and family guidance over professional broker support
Nearly one in three first-time buyers would not consult a mortgage broker as a primary source of advice, according to Barratt Homes' First Time Buyers Report 2026, which surveyed 660 prospective buyers across the UK.
The report, which also draws on ONS data and government housing statistics, found that 68% of respondents would turn to a broker for mortgage information — leaving 32% who would rely primarily on other sources.
Online searches were cited by 64% of respondents as a trusted information source, and family advice by 57%. Friends ranked fourth at 26%, followed by AI chatbots at 21% and social media at 7%.
For Terry Higgins (pictured right), managing director at The New Homes Group, the findings pointed to a gap in broker engagement among prospective buyers. "Online research and advice from friends and family can be helpful," he said. "However, brokers play a key role in securing the correct mortgage deal for you, and in helping you to prepare for a mortgage application to give you the best chance of it being successful.
"A good mortgage broker will hold your hand and guide you through the whole home buying process. They have in-depth knowledge of lenders and their criteria and can often access deals that aren't available directly to consumers, which is particularly valuable for those on a tighter budget or with smaller deposits."
The trend towards AI-driven guidance also featured in the findings, with one in five first-time buyers saying they would trust a chatbot for mortgage advice. Social media remains the least favoured source at 7%.
The report also identified the biggest barriers facing first-time buyers. Finding a home within budget was the leading challenge, cited by 33% of respondents, followed by saving for a deposit at 31%. Understanding associated costs (12%) and navigating mortgage options (11%) ranked third and fourth respectively.
ONS data analysed by Barratt Homes identified Burnley as the most affordable local authority for first-time buyers in England and Wales, with average property prices of £116,000 — 63% below the UK average of £311,034. County Durham (£125,000) and Hyndburn (£127,000) followed in second and third place. All ten of the most affordable areas were located in the North West, North East, Wales, or Yorkshire, with no southern or Midlands locations featuring in the top 10.
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