In addition, 33% of brokers said they have placed no first-time buyer cases at all.
By comparison, 3% revealed they have placed between 11 and 20 cases and 7% have placed 21 or more cases in the last six months.
The results follow e.surv’s latest claim that strict lending conditions are “sucking the life” from the first-time buyer market, with purchase approvals in September for those with a deposit of 25% or less falling to their lowest level since February.
David Sheppard, managing director of Perception Finance, said that strict lending criteria is severely knocking potential first-time buyers’ confidence in getting a mortgage and many do not think to approach a broker.
He said: “The biggest issue to the market right now is the lack of advice to first-time buyers.
“I would like to see banks encourage consumers to approach other lenders or mortgage brokers who could assist consumers who do not fit their criteria. Better customer service could provide a massive boost to the first-time buyer sector.”
Nevertheless, Sheppard expects the percentage of business coming through brokers to increase over the next six months as consumers become more financially savvy.
He said: “We are living in an age when people are beginning to feel more empowered on their financial dealings, whether that is using comparison websites or approaching other places and finding other ways to organise their finances.
“However, many people still need to be educated about the benefits of using a broker and they need for banks to engage with them better to ensure that they are directed in the best way possible.”
