Half of people – exactly 50 per cent – who bought a property during 2020 have lost faith in their bank during the pandemic, a survey from Butterfield Mortgages shows.

Of the more than 1,250 people asked, 19 per cent of existing homeowners said that they had lost faith in their lender of choice “due to the poor support it has provided” during the crisis while 23 per cent said they planned to take their business elsewhere in the next 12 months.

On top of this, 25 per cent of homeowners reported that their bank had not been proactive in providing advice during the pandemic.

And perhaps of most significant interest in an era where technology is being pushed forward, 31 per cent of those asked found themselves “frustrated” by their bank’s reliance on chatbots and other automated services.

Butterfield Mortgages chief executive Alpa Bhakta comments: “Homeowners across the UK are clearly frustrated by the way they have been treated by their banks during the pandemic, and this has led to a confidence crisis.

“There’s no denying that Covid-19 has posed some significant challenges for banks, large and small. Nonetheless, today’s research shows that some firms have struggled when it comes to delivering the same level of customer service experienced before the pandemic.

“During these difficult times, banks cannot overlook the importance of delivering the same high standard of professional services. If they fail to adapt their services to cater for the ‘new norma’”, there is a risk they could lose customers to rival firms.”