"There is a limit to what you can do to stop people changing their minds but finance should not be an issue."
34% of people who have tried to buy or sell have faced finance problems, with a further 32% blaming buyers who changed their mind at the last minute.
The research shows it is buyers who are more likely to have mortgage issues than sellers. Its study found more than one in five (22%) have had sales or purchases fall through in the past five years because of mortgage issues but 15% have been buyers compared with just 7% of sellers.
Su Snaith, Head of Estate Agency at The Nottingham, said: “It is worrying that the successful outcome of many housing transactions relies so heavily on people getting the right mortgage for them very early on.
“Selling or buying a house does not have to be stressful but with hundreds of thousands of transactions failing every year it is clear that people need expert support and advice throughout the process. There is a limit to what you can do to stop people changing their minds but finance should not be an issue.
“Mortgage rates have never been lower and there are a wide range of competitive deals available but arranging finance can take time which should mean securing a deal in principle before starting on the process and sourcing expert advice on all aspects of the deal."