Applying for a mortgage is one of the biggest financial steps you’ll ever take—and one of the most commonly asked questions we hear at Your Mortgage Shop is: “How long does a mortgage application take?’
The short answer: between 2 to 6 weeks, but it can vary depending on several factors.
In this guide, we break down each stage of the process so you know what to expect and how to avoid delays.
1. Mortgage Agreement in Principle (AIP): 15 minutes to 24 hours
Before you start house hunting, it’s wise to get a Mortgage Agreement in Principle (also known as a Decision in Principle or DIP). This is a statement from a lender saying how much they might be willing to lend you, based on a soft credit check and some basic information.
Most online lenders can issue this within minutes, but if you’re working with a broker (like us), we’ll shop around to find you the best deal and lender match, which can take a little longer—but ensures better outcomes.
2. Full Mortgage Application: 1 to 2 hours to complete (For Us)
Once you’ve found your dream home and had your offer accepted, it’s time to complete your full mortgage application. This includes submitting detailed information about:
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Your income (e.g. payslips, tax returns)
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Employment status
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ID and address history
With Your Mortgage Shop, we’ll help you compile all the necessary documents, complete the application accurately, and submit it to your chosen lender—often within a day.
3. Mortgage Underwriting: 1 to 3 weeks
This is where the real waiting begins. Once your application is submitted, it goes to an underwriter who will assess your financial situation in detail. They’ll also order a property valuation to ensure the home is worth the loan amount.
On average, this process takes 1 to 3 weeks, but it can be quicker with some lenders—especially if everything is in order and you’re well-prepared.
4. Mortgage Offer: 24 to 48 hours after approval
Once the underwriter is happy with everything, you’ll receive a formal mortgage offer. This is the document confirming your mortgage is approved and ready to proceed.
Your solicitor will also receive a copy and begin arranging the next steps toward exchange and completion.
5. Factors That Could Delay Your Application
Several things can slow down the process:
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Missing documents or incorrect information
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Unusual income sources (e.g. self-employed)
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Complex property types
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Backlog at the lender’s end
That’s where having a mortgage broker really helps. At Your Mortgage Shop, we pre-check all your documents and tailor your application to the right lender, minimising hold-ups.
How to Speed Up Your Mortgage Application
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Get your documents ready early (ID, proof of income, bank statements)
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Check your credit score and address any issues
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Work with a trusted mortgage broker (like us!)
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Be responsive – reply to emails or requests promptly
While the process typically lasts 2 to 6 weeks, being organised and working with a broker can streamline everything significantly.
At Your Mortgage Shop, we handle the leg work so you can focus on the exciting part—getting the keys to your new home.
Need help with your mortgage application?
Give us a call on 0115 9620777, Visit our Website or send us a message.
We’re here to make your homeownership journey smooth and stress-free.
