Just 3% of first-time buyers unsatisfied with their lender

Only 3% of respondents in April 2017 indicated that they were dissatisfied to some degree, which echoes the 2016 results and represents a strong improvement on 2014 and 2015.

Slightly more than two thirds of first-time buyers (68%) are satisfied or very satisfied – once again similar to 2016 and better than earlier years.

Lenders also got higher ratings than in previous years for factors such as friendliness and helpfulness of staff and professionalism in dealing with customers.

Broadly speaking, the relative ranking of attributes has not changed dramatically over the past few years. For example, factors such as friendliness or helpfulness of staff or professionalism when dealing with the customer have consistently headed up the favourability rankings.

At the other end of the spectrum, lenders appear to score less strongly on issues that cluster broadly around customer empowerment and engagement. The CML says this is an area where consumer expectations are likely to be evolving rapidly, and influenced powerfully by developments in other sectors and the growth of digital technologies. The Council added that given their age profile, first-time buyers may be especially discerning in this respect.