Quick summary For more information, see FCA regulated mortgage advice.
- Mortgage in principle: same day to 24 hours
- Full application to mortgage offer: typically 2–6 weeks
- Conveyancing to completion: usually 8–12 weeks from offer
- Total from application to keys: most cases 8–16 weeks
How long does a mortgage application take? The honest answer is that it varies — but understanding each stage helps you plan properly, avoid delays, and avoid nasty surprises.
The stages at a glance
Mortgage in principle — same day to 24 hours
A conditional indication from a lender of how much they would lend you, subject to full checks. Most are issued online within hours. Useful for making offers on properties.
Full application — 1 to 5 working days
Submitted once you have an accepted offer on a property. The lender reviews documents and issues an initial decision. Incomplete applications are the most common cause of delays here.
Underwriting — 1 to 4 weeks
The lender’s credit team checks income, affordability, and credit file in detail. Speed varies enormously — automated high street lenders can be days; specialist lenders with manual underwriting can be 2–4 weeks.
Property valuation — 3 to 7 working days
The lender commissions a valuation of the property (usually runs alongside underwriting). Straightforward properties get a desktop valuation; unusual properties need a physical surveyor visit.
Formal mortgage offer — issued after underwriting
The document that confirms the lender will lend the money. Valid for 6 months (some lenders 3 months). Your solicitor needs this to proceed to exchange.
Conveyancing, exchange and completion — 6 to 12 weeks
Your solicitor runs searches, reviews title, raises enquiries and prepares for exchange of contracts (legally binding). Completion — when you get the keys — is usually 1 to 4 weeks after exchange.
Purchase vs remortgage: different timelines
| Transaction type | Typical total timeline | Why |
|---|---|---|
| First purchase | 10–16 weeks | Chain, full conveyancing, surveys, coordination between multiple parties |
| Moving home (chain) | 12–20 weeks | Multiple buyers and sellers need to be ready simultaneously |
| Remortgage (same property) | 4–8 weeks | No chain, no buyer/seller, simplified legal process |
| New build purchase | Variable | Build completion drives timing; mortgage offer timing needs careful management |
What causes delays?
Most common causes of delay
Missing or unclear documents are the single biggest preventable cause. A broker who checks everything before submission can cut weeks off the underwriting process.
- Missing documents — payslips, bank statements, tax returns not submitted correctly
- Undisclosed credit issues — defaults or loans that surface during underwriting
- Property concerns — unusual construction, short lease, above commercial premises
- Surveyor access issues — particularly with tenant-occupied properties
- Conveyancing backlogs — slow searches, hard-to-reach sellers’ solicitors, chain complications
- Lender backlogs — busy periods can add 1–2 weeks to underwriting turnaround
How a broker speeds things up
What a broker does differently
A broker prepares a complete, well-presented application before submission. They know which lenders have the fastest current turnaround times, flag any issues before they become problems in underwriting, and chase the lender proactively on your behalf. This typically saves 1–3 weeks compared to applying direct — and dramatically reduces the chance of an unexpected decline.
Frequently asked questions
How long does a mortgage in principle last?
Most are valid for 60 to 90 days. After that, the lender reruns credit checks. If you are actively viewing properties, renew after 60 days — it is straightforward.
Can a mortgage be declined after the offer is issued?
Rarely, but yes — if your situation changes materially (job loss, new major debt, property survey reveals serious defects). Always avoid taking on new credit or changing employment after a mortgage offer is issued.
What is the difference between exchange and completion?
Exchange of contracts is the legally binding moment — you and the seller are committed. Completion is when money transfers and you get the keys. The gap between them is typically 1 to 4 weeks, but can be agreed to be longer or shorter by both parties.
Speak to an adviser
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