Nearly eight out of 10 first-time buyers say they are likely to use a broker to secure a mortgage, research by Yorkshire Building Society has found.

The lender, which is parent to intermediary-only brand Accord, found that 78% of first-time buyers were planning to use an adviser, while a further 13% had already consulted a broker.

The main reason for using a broker, given by 36% of first-time buyers, was to gain access to more of the market and better deals.

This was closely followed by not feeling confident enough about the purchasing process to be able to do it alone for 34%.

Not knowing where to search to find a good deal was the reason cited by 28%.

More than a quarter also reported wanting tailored advice or looking for someone else to do the paperwork. 

The research, which looked at a sample of 2,000 first-time buyers planning on purchasing a home in the next three years, also revealed anxieties and uncertainties about the buying process. 

It found that 38% had not heard of an approval in principle (AIP).

There were mixed views about the best time in the home-buying journey to obtain one, with 16% expecting to complete an AIP only once their offer on a home had been accepted.

Accord managing director Jeremy Duncombe says: “These findings demonstrate the importance of the role the broker has to play, both now and in the future, in helping to educate and guide those looking to purchase a home for the first time.

“There is a real opportunity for brokers to add value in this area of the market, but also to secure business for many years to come. 

“Our research shows the demand is there, and those advisers who get the initial interaction right could secure repeat business in the future as their clients move up the housing ladder.”