BSA research shows mortgage access concerns falling but affordability still the main barrier

Just over one in three people (37%) now see access to a mortgage as a barrier to buying a home, down from almost half (48%) two years ago, according to the Building Societies Association's latest Property Tracker, published on 29 July 2026¹. The BSA said confidence in getting a mortgage is growing while affordability remains the biggest barrier¹.

Affordability has improved over the last two years, with fewer people citing monthly repayments as a barrier, down from 63% to 55%¹. Even so, monthly repayments and raising a deposit (56%) continue to top the list of obstacles¹. Just 16% believe now is a good time to buy, yet people are almost three times more likely to expect house prices to rise over the next year (38%) than fall (14%)¹.

Housing market confidence has strengthened over the last three months, with the Property Tracker's confidence index improving by 8 percentage points to -18%¹. The BSA said sentiment remains in negative territory, as it has for almost five years¹.

Paul Broadhead, Head of Mortgage and Housing Policy at the BSA, said:

The BSA also said almost half (47%) of aspiring first-time buyers had never spoken to a lender or mortgage broker, based on its previous research¹. The findings come as borrowers await the latest interest rate decision¹.

The September 2024 comparison data was based on a sample size of 2,016 adults, with fieldwork undertaken between 2 and 3 September 2024¹. Figures were weighted and are representative of all GB adults aged 18 and over¹.

The BSA represents all 42 UK building societies, including both mutual-owned banks, as well as 8 of the largest credit unions¹. It said building societies and mutual-owned banks have total assets of almost £670 billion and, together with their subsidiaries, hold residential mortgages of £499.1 billion, 29% of the total outstanding in the UK¹. They also hold £502.2 billion of retail deposits, accounting for 23% of all such deposits in the UK, and account for 46% of all cash ISA balances¹. The BSA said building societies employ around 52,300 full and part-time staff and operate through approximately 1,300 branches¹.

Why it matters for households

The share of people who see mortgage access as a barrier has fallen by 11 percentage points since September 2024, from 48% to 37%¹. The share citing monthly repayments has fallen from 63% to 55% over the same period¹. Raising a deposit, at 56%, is now cited by slightly more people than monthly repayments¹.

For households weighing up a purchase, the survey points to a market where fewer people expect access to credit to be the obstacle, while the cost of repayments and the size of a deposit remain the most commonly cited barriers¹. Only 16% of respondents believe now is a good time to buy, while 38% expect house prices to rise over the next year and 14% expect them to fall¹.

The BSA's figures cover the mutual sector's share of the UK mortgage and deposit markets, including £499.1 billion of residential mortgages, 29% of the total outstanding, and £502.2 billion of retail deposits, 23% of the total¹. The BSA said almost half (47%) of aspiring first-time buyers had never spoken to a lender or mortgage broker¹.

What happens next

The BSA said the findings come as borrowers await the latest interest rate decision¹. Paul Broadhead said the Bank Rate decision would be closely watched¹. No further dates have been reported.