You’ve found your perfect home and made an offer.
Now comes the mortgage application.
Whether you’re a first-time buyer or moving house, understanding how long this takes and what’s involved helps you plan ahead and avoid unnecessary stress.
Getting a mortgage normally takes between two and six weeks, though every application is different.
Understanding what lenders need and being well-prepared can help your application move more smoothly.
Key points:
- The process usually takes 2-6 weeks from application to offer
- Brokers help speed things up by checking everything
- Good preparation and paperwork prevents unnecessary delays
- A healthy credit score improves your chances of quick approval
- Independent brokers can match you with the most suitable lenders
Setting Expectations
A typical mortgage application takes between 2-6 weeks from start to finish.
Some straightforward applications, like a standard residential mortgage with good documentation, might receive an offer in just two weeks. More complex cases, such as self-employed applications or unusual properties, typically take four to six weeks.
Several factors influence the timeline, including the lender’s current workload, your personal circumstances, and how well-prepared you are with documentation.
Some mortgage lenders process applications faster than others, particularly when all your paperwork is in order. Your mortgage broker will know which lenders offer quicker turnaround times when speed matters for your purchase.
Before You Apply
Start preparing at least three months before applying.
Check your credit report early on – this gives you time to fix any errors and improve your score if needed. Even small issues like an incorrect address can slow down your application.
Gather your documents well in advance.
You’ll need recent payslips, your latest P60, and six months of bank statements. Self-employed applicants need help from their accountant to prepare business accounts and tax calculations. Having these documents ready speeds everything up significantly.
Review your finances thoroughly.
Look at your regular income and outgoings. Consider any changes that might affect your finances in the next few years. This preparation helps you understand how much you might be able to borrow and what you can comfortably afford each month.
Brokers are very happy to help at this stage. They can look at your situation and provide tips for any areas that could be improved.
Read more: How to get mortgage ready
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Application Stages
The process begins with an initial assessment.
Your broker reviews your circumstances and matches you with suitable lenders. This saves time by only focusing on lenders likely to accept your application.
Next comes the Agreement in Principle, usually taking 24 hours.
This basic check shows how much you might be able to borrow from a specific lender. Estate agents often want to see this before accepting offers, as it shows you’re a serious buyer.
Once you’ve found a property, your broker submits the full application with detailed information about you and the property.
The lender checks everything thoroughly during underwriting, which typically takes 1-2 weeks. They’ll arrange a property valuation, adding another 3-5 working days.
Mortgage brokers often spot potential issues before they become problems.
For example, they might notice that your overtime income needs specific documentation or that your property type requires a more specialist lender. This foresight prevents delays later in the process.
The formal mortgage offer arrives once the lender approves everything. This document outlines all your mortgage terms and conditions. Your solicitor reviews this as part of the wider conveyancing process.
Read more: Guide to applying for a mortgage
Making Your Application Smoother
Common delays include missing documents, unexplained bank transactions, or issues with property valuations.
Being upfront about any potential concerns helps avoid surprises.
For example, if you’ve recently changed jobs or have unusual income sources, tell your broker early so they can find lenders who accept your situation.
What Lenders Really Look For
Lenders focus on whether you can comfortably afford the monthly payments.
They examine your income, outgoings, and other financial commitments. They want to see stability in the way you earn your income and understand any planned changes to your situation.
Your credit history shows how well you manage money and debt.
Regular savings and staying within credit limits demonstrate good financial habits. Lenders look beyond just your credit score to understand your overall financial behaviour.
The property itself must be acceptable to the lender and provide good security for the loan.
Lenders assess its condition, construction type, and local market values. Some properties need specialist lenders, such as those above commercial premises or with non-standard construction.
Read more: Mortgage underwriting explained
How a Broker Can Speed Things Up
Time matters when you’re buying a property. Mortgage brokers make the whole process smoother and faster in several ways.
Getting It Right First Time
Brokers know exactly what each lender needs. They ensure your application pack includes all the right documents before submission. This helps to prevent the back-and-forth that often slows down direct applications.
They check your documents thoroughly, spotting any potential issues early. If something needs explaining, like a recent job change or unusual income source, they include this information upfront.
Finding The Right Lender
Different lenders work at different speeds.
Some offer faster processing for certain types of applications. Your broker knows which lenders can move quickly when needed, such as for auction purchases or when you need to complete rapidly.
They also know which lenders suit your specific situation.
If you’re self-employed, have a complex income, or need a quick turnaround, they’ll match you with lenders who handle these cases efficiently.
Direct Access To Lenders
Brokers have strong relationships with lenders and will have access to dedicated support teams.
This means they can:
- Speak directly with underwriters about your case
- Get quicker answers to questions
- Chase applications effectively
- Handle any issues promptly
Making Your Application Stand Out
A well-presented application moves through the system faster.
Brokers package your information professionally, highlighting key points that support your case. They explain any unusual aspects of your application clearly, reducing questions from the lender.
Keeping Things Moving
Your broker actively monitors your application’s progress.
They chase the lender regularly and keep you updated. If the lender needs more information, your broker tells you exactly what’s required and helps you provide it quickly.
Working Around Problems
Sometimes issues arise during the mortgage process.
Perhaps the valuation raises questions, or the lender needs more information about your income. Brokers handle these situations regularly and know how to resolve them efficiently.
Saving You Time
While a broker handles your mortgage application, you can focus on other aspects of your move.
They take care of the paperwork, communicate with the lender, and manage the process through to completion.
The support of a qualified broker often means the difference between a smooth, efficient mortgage process and a drawn-out, stressful experience. Most importantly, they help you avoid delays that could put your property purchase at risk.
Mortgages and Conveyancing
While your mortgage might be approved in 2-6 weeks, remember this is just one part of buying a property. The legal process – known as conveyancing – runs alongside your mortgage application but often takes longer, typically 8-12 weeks.
Your mortgage and conveyancing work in parallel.
While your broker handles the mortgage application, your solicitor carries out searches, checks the property’s legal status, and handles contracts. Even with a quick mortgage offer, you’ll still need to wait for the legal work to complete.
Getting your mortgage sorted early helps avoid holding up the legal process.
Some parts of conveyancing, like exchanging contracts, can only happen once your formal mortgage offer is in place. That’s why it makes sense to start your mortgage application as soon as possible after having an offer accepted.
Ready to Start?
Every mortgage application differs, but good preparation always makes a significant difference to how smoothly things progress.
Speaking with a mortgage broker early in your property search saves time later.
They’ll explain what different lenders offer and guide you through each application stage.
Remember, getting a mortgage takes time, but being well-prepared and working with experienced professionals helps everything run more smoothly.
Would you like to speak with an independent broker about your mortgage options?
Frequently Asked Questions
While you can apply directly to lenders, a broker often saves time and money. They have access to more deals, understand lender criteria, and help present your application effectively. Certain lenders only work through brokers.
This very much depends on you, and the type of mortgage you need.
Most lenders require at least 10% deposit for residential mortgages. First-time buyers might find 5% deposit mortgages, while buy-to-let typically needs 25%. Larger deposits often secure better interest rates.
Read more: A Guide to Mortgage Deposits
Yes, but you’ll typically need 2 years of accounts. Some specialist lenders accept one year’s records. Your accounts must be prepared by a qualified accountant, and you’ll need tax calculations and tax year overviews.
Most AIPs last between 60-90 days. If it expires before you find a property, you can easily get another one. Multiple AIPs won’t harm your credit score if done properly.
Read more: Should you get more than one Decision in Principle?
Work with your broker to understand why. They can suggest alternative lenders or ways to strengthen your application. Avoid making multiple applications as this affects your credit score.
Read more: What to do if your mortgage is declined
Buildings insurance is mandatory. Life insurance isn’t legally required but many lenders recommend it.
Yes, most lenders accept gifted deposits from immediate family.
You’ll need a gifted deposit letter and proof of funds. Some lenders also want to see the money in your account for a set period.
Read more: What is a gifted deposit?
