Prospective first-time buyers (FTBs) underestimate how long the homebuying process will take by nearly five months, Aldermore’s latest First Time Buyer Index reveals.

The data, which was found as part of research conducted on 2,000 prospective FTBs and 500 actual FTBs, shows liaising with estate agents takes around six weeks longer than what people expect while liaising with mortgage advisers takes five weeks longer than what people expect.

Elsewhere, prospective homebuyers thought that they would need 10 weeks to liaise with mortgage brokers but Aldermore’s data shows this can actually take 16 weeks.

However, those liaising with solicitors expect it to take a week longer than it does, and people viewing homes expect that it will take 20 weeks compared to the 18 weeks it does.

Aldermore director of mortgages Jon Cooper says: “For brokers, helping clients navigate the homebuying process is about more than just securing a mortgage, it’s about guiding them through a potentially complex and lengthy journey.”

“First time buyers often underestimate the time involved, especially when dealing with solicitors, estate agents, and unexpected issues like survey-related repairs. This can lead to delays that frustrate eager buyers.”