Almost nine in ten UK borrowers found their most recent mortgage application stressful, with waiting for lender approval emerging as the biggest source of anxiety, according to research by Boon Brokers.

The study, conducted by TLF Research among 1,000 recent UK borrowers, found 88% experienced stress during the process, while 45% described it as very or extremely stressful.

Waiting for lender approval was cited by 29% of respondents as the most stressful stage, narrowly ahead of finding the best mortgage deal (28%). Survey and valuation issues (23%), proving income (21%) and unexpected document requests (17%) also ranked among the leading concerns.

Younger borrowers reported the highest stress levels, with 59% of those aged 18-24 describing their mortgage application as very or extremely stressful, compared with 29% of borrowers aged 55-64.

"What these findings show us in the industry is that there is still a need to improve on mortgage education and services that help first-time buyers feel more confident before they apply", said Gerard Boon, managing director and researcher at Boon Brokers.

Mortgage lenders were identified as the biggest source of stress by 44% of respondents, ahead of surveyors (25%) and mortgage brokers (23%).

Regionally, survey and valuation concerns were most common in South East England, while London recorded the highest level of stress linked to surveys and valuations among UK cities. Comparatively, only 18% of borrowers in Cardiff, 16% of borrowers in Glasgow and 6% in Belfast selected survey and valuation issues.

"A main finding that the research highlights is that the stress for borrowers is rarely caused by a single issue or stage during the mortgage application. Instead, the data shows broad results of borrowers experiencing pressure at multiple stages of the process," Boon said.

He added: "Improving communication, setting clearer expectations and helping borrowers understand lender requirements before an application is submitted could all play an important role in reducing unnecessary stress throughout the mortgage journey."

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