Mortgages
The Mortgage Process UK: What Happens and When
Six stages sit between your first conversation and the keys in your hand. We run five of them for you, and this page explains all six so nothing arrives as a surprise.
- 6 clear stages
- We chase the lender
- Same day decision in principle
- £0 broker fees
Free, no obligation, and no credit check to get started.
The mortgage process UK buyers go through has not changed much in decades, but almost nobody explains the order clearly, so people worry about stage five while they are still on stage two.
Here is the whole thing, start to finish, with a realistic timescale for each part and a note on what you actually have to do yourself.
Stage One: The Conversation
We talk about what you earn, what you owe, what you have saved and what you are trying to do. No paperwork and no credit check. At the end of it you have a realistic borrowing figure and a monthly payment you can sanity check against your budget. Typically thirty minutes.
Stage Two: Agreement in Principle
An early indication from a lender that it would likely lend you a certain amount. Estate agents usually want to see one before they take an offer seriously, so it is worth having before you view. Often issued the same day.
An agreement in principle opens doors. The mortgage offer at stage four is the commitment. Do not confuse the two, and do not exchange contracts on the strength of the first.
Stage Three: The Full Application
Once your offer on a property is accepted, we submit the full application to the lender we have already matched to your circumstances. This is where the documents matter: identification, payslips, bank statements, proof of deposit. Everything ready means days rather than weeks.
- Photo identification and proof of address
- Three months of payslips and bank statements
- Latest P60, or two years of accounts if self employed
- Evidence of where the deposit came from
- Your employment contract if you have recently started
Stage Four: Valuation and Offer
The lender values the property to check its own security. That valuation is not a survey and is not for your benefit, which is why we usually suggest arranging your own survey alongside it, particularly on an older home.
If the valuation and underwriting are satisfied, the lender issues a formal mortgage offer. Two to six weeks from application is typical.
Stage Five: The Legal Work
Your solicitor runs searches, checks the title and raises enquiries with the seller’s solicitor. This is the stage that most often stretches, and usually because of a chain rather than anything you have done. Four to eight weeks is normal. We chase on your behalf.
Stage Six: Exchange and Completion
At exchange, contracts are swapped and the deal becomes legally binding. Your deposit is paid across at this point. At completion, usually one to four weeks later, the lender releases the funds and you collect the keys.
For a fuller explanation of the legal side, the government guide to buying and selling a home is a useful companion read.
How Long the Whole Thing Takes
Two to three months from application to completion is normal. The parts you control are the documents and how quickly you respond to questions. The parts you do not are the chain, the survey and the solicitors, which is exactly why we chase them rather than leaving it to you.
No paperwork and no credit check. An adviser calls you back with your real options.
Start nowor call 0117 370 6363Frequently Asked Questions
How quickly can I get an agreement in principle?
Often the same day, sometimes within an hour. It involves a soft check with most lenders, so it does not harm your credit file.
What slows a mortgage down most?
Missing documents and chains. Proof of deposit, particularly money coming from overseas, is the single most common hold up we see.
Can I change my mind after the offer?
Yes. A mortgage offer is not binding on you until exchange of contracts. You can withdraw before that point, though you may lose money already spent on searches and surveys.
Do I need a solicitor and a surveyor?
A solicitor, yes, the purchase cannot complete without one. A survey is optional but usually worth it on any property that is not new build.
Start at stage one, today
A free conversation, a realistic figure and a clear next step. No paperwork and no credit check.
Your home may be repossessed if you do not keep up repayments on your mortgage.
For mortgage and insurance we do not charge any fee as we are remunerated by commission from lenders and providers.
Infinity Financials Ltd is directly authorised and regulated by the Financial Conduct Authority, FCA registration number 993949. Infinity Mortgage is a trading style of Infinity Financials Ltd.