How Long Does a Mortgage Application Take?
A full mortgage application usually takes two to four weeks from submission to a formal mortgage offer being issued. If you look at the whole journey of getting a mortgage, from applying for an agreement in principle through to completion, most buyers should allow around two to three months. How long it takes depends on your individual circumstances, the mortgage lender, the property and the people around you in the chain, so treat every figure on this page as a typical guide rather than a promise.
At First In Mortgages, we guide clients through the mortgage process every day, so below we set out how long each stage of a mortgage application takes, what can cause delays, and how you can help things move more quickly.
Mortgage application timeline at a glance
| Stage | Typical time |
|---|---|
| Agreement in principle (decision in principle) | A few minutes to 24 hours |
| Finding a property and having an offer accepted | Varies |
| Full mortgage application submitted | 1 to 2 days to prepare |
| Mortgage valuation / home valuation | A few days to 2 weeks |
| Underwriting and formal mortgage offer | 1 to 3 weeks |
| Conveyancing, searches and exchange of contracts | 8 to 12 weeks |
| Exchange of contracts to completion | 1 to 4 weeks |
Taken together, from applying for a mortgage to getting the keys, a typical purchase takes around 12 to 16 weeks. Some go through faster; a long property chain or a complex case can take longer.
The mortgage application process, stage by stage
1. Agreement in principle (up to 24 hours)
An agreement in principle, also called a decision in principle or a mortgage in principle, is a lender’s initial indication of how much they may be willing to lend you. It is usually based on a soft credit check and can often be issued within a few minutes to 24 hours. It is not a full mortgage offer, but it shows estate agents and sellers that you are a serious buyer, and it is the sensible first step before you start house hunting.
2. Finding a property and making an offer (varies)
There is no fixed timescale for finding the right home and having an offer accepted. This stage is entirely down to the market and to you. Once your offer is accepted, you instruct a solicitor or licensed conveyancer, and your full mortgage application can begin in earnest.
3. Submitting your full mortgage application (1 to 2 days)
Once you have chosen your mortgage, we help you submit the full application to the mortgage lender. The application itself is quick to complete when your paperwork is ready. You will typically need proof of income such as payslips, or tax calculations and tax returns if you are self employed, recent bank statements, proof of your deposit, and photographic ID. Having these ready before you apply is the single best thing you can do to speed the process up.
4. The mortgage valuation (a few days to 2 weeks)
After you apply, the lender arranges a mortgage valuation, sometimes called a home valuation, to check the property is worth what you are paying. Most valuations are booked within a few days to two weeks, depending on the surveyor’s availability. This is different from a fuller property survey, such as a homebuyer report or building survey, which you may choose to commission separately for your own peace of mind.
5. Underwriting and your mortgage offer (1 to 3 weeks)
Your application then goes to the mortgage lender’s underwriter, who reviews your income, outgoings, credit history and the valuation in detail. If they need anything further, the timeline can extend, which is why a well-prepared application matters. Once the underwriter is satisfied, you receive mortgage approval and the lender issues a formal mortgage offer. This is a legally binding commitment to lend, and it is usually valid for three to six months, giving you time to complete.
6. Conveyancing, exchange and completion (typically 8 to 12 weeks)
Alongside the mortgage, your conveyancer handles the legal side: property searches, reviewing the contract, and raising enquiries with the seller’s solicitor. Once everyone is ready, you exchange contracts, at which point the sale becomes legally binding, and you agree a completion date. Completion, the day you get the keys, usually follows one to four weeks after exchange.
What can cause delays to a mortgage application?
Several things can cause hold-ups to a mortgage application. Being aware of them helps you avoid the common pitfalls:
- Incomplete or incorrect documentation. This is the most common cause of delays. A missing payslip or an out-of-date bank statement can stall the whole process while the lender waits.
- Complex financial situations. If you are self employed, have several income sources, or have a patchy credit history, the lender will carry out more thorough checks, which takes longer.
- Property-related issues. If the valuation raises concerns about the property’s condition, or the property is leasehold, the lender may ask for further investigation.
- A long property chain. The more buyers and sellers in the chain, the more people have to be ready at the same time to exchange and complete.
- Lender workload. At busy times, lenders and surveyors can take longer at each stage, particularly underwriting.
How to speed up your mortgage application
You cannot control the lender’s workload, but you can control your side of it. To give yourself the best chance of a quick, smooth application:
- Get your agreement in principle before you start house hunting.
- Gather your documents, payslips, bank statements, ID and proof of deposit, before you apply.
- Check your credit file and credit rating early, and make sure you are on the electoral roll.
- Respond to any lender or conveyancer questions as quickly as you can.
- Use a whole-of-market mortgage broker to place your application with a lender suited to your circumstances first time.
How a mortgage broker can help
A good mortgage broker can make the whole process faster and less stressful. Because we compare many lenders and understand each one’s criteria, we can match your application to a lender likely to accept it, present it correctly the first time, and chase the lender and conveyancer on your behalf. Getting the right mortgage advice from the start reduces the risk of a declined application, which can cost you weeks and leave a mark on your credit file.
How long does a mortgage application take? Your questions answered
How long does it take to get a mortgage approved?
For a straightforward case, mortgage approval and a formal offer are often issued within one to three weeks of your full application, once the valuation is back and underwriting is complete. More complex cases can take longer.
How long does a mortgage valuation take?
The valuation itself usually takes less than an hour at the property. Booking it and receiving the report back typically takes a few days to two weeks, depending on the surveyor.
How long after the valuation until the mortgage offer?
If the valuation is satisfactory and underwriting is complete, the formal mortgage offer often follows within a few days to a couple of weeks.
How long does a mortgage offer last?
Most mortgage offers are valid for three to six months. If you need longer, some lenders will consider an extension, though this is not guaranteed.
How long does it take from mortgage offer to completion?
Once you have your mortgage offer, the time to completion depends on the conveyancing and the chain. With no chain it can be a few weeks; with a chain, it commonly takes one to two months.
Can I get a mortgage in two weeks?
It is possible in simple cases, for example a remortgage with an organised applicant and a quick valuation and cash buyer, but for a house purchase it is unusual. Most purchases take longer because of the property and legal work involved.
Can anything go wrong after a mortgage offer?
Occasionally, yes. A change in your circumstances, such as a new debt or a change of job, or a problem found during conveyancing can affect an offer. Keeping your finances stable between offer and completion is important.
Speak to First in Mortgages
If you are thinking about buying or remortgaging and want a clear idea of the timeline for your own situation, our mortgage advisers are here to help. As a whole-of-market mortgage broker, we will guide you from agreement in principle through to completion and keep things moving at every stage.
Your home may be repossessed if you do not keep up repayments on your mortgage.