Poor credit scores could be part of the reason, as half of those surveyed by The Mortgage Lender (TML) did not know their credit score yet, planned to buy a property in the next year.
A sizeable one in 10 has also been put off applying for a mortgage as they believe they have a poor credit history.
Many have a limited understanding of how to improve their position, with nearly two thirds of respondents stating that they had never taken steps to improve their credit rating.
A further 13 per cent said they weren’t clear of what steps they should be taking to improve their credit situation.
Fewer than one in five of those surveyed said they had taken steps to improve their position.
Peter Beaumont, chief executive at The Mortgage Lender said: “The number of people who don’t know their credit score, despite wanting to make big purchases like buying a house, is a worrying trend. It shows there is a need for education among UK adults on what their credit score is, how it could impact major buying decisions such as home buying, and how to improve it.”
He added: “A small blip on a credit score shouldn’t mean they are automatically excluded from a mortgage. Specialist lenders can support, where often the high street cannot, by offering products suitable for those with less than perfect credit scores. Talking to a mortgage broker will help to ensure you can find lenders that can help with your property ambitions.”
