A new survey has suggested that almost one in ten home sales are not completed because would-be buyers cannot obtain the mortgage they need.

The survey of members of the Royal Institution of Chartered Surveyors (RICS) was carried out on behalf of The Times, which reports that 9% of agreed deals were collapsing because of the difficult mortgage market.

Mortgage lenders have exercised a cautious approach to lending in recent months, meaning many would-be homeowners have unexpectedly been rejected.

A mortgage expert for Think Money said: “Despite these findings, the majority of home sales are still going through. Mortgages are still available – it can just take longer to find the right deal than it used to.

The spokesperson continued: “Anyone looking for a mortgage or remortgage should make sure they get advice from a professional mortgage adviser, who could help them find a mortgage deal that really meets their needs.”