4th April 2025

How Long Does a Mortgage Application Take to Be Approved?

Applying for a mortgage is one of the most significant financial steps you'll take, and it's natural to wonder, "How long does a mortgage application take?" The timeline can vary depending on several factors, including the lender, your financial circumstances, and whether you're working with a broker. In this article, we'll answer common questions like how long does it take to get a mortgage, how long does mortgage approval take, and how long does it take to get a mortgage offer. We'll also explore how using a broker can streamline the process.

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The Mortgage Application Process: A Step-by-Step Overview

Before diving into timelines, let's break down the typical mortgage application process:

1. Preparation: Gather your financial documents, such as payslips, bank statements, and proof of identity.
2. Mortgage Agreement in Principle (AIP): Obtain an AIP to understand how much you can borrow.
3. Property Valuation: The lender assesses the property's value to ensure it's suitable security for the loan.
4. Formal Application: Submit your full application, including all required documentation.
5. Underwriting: The lender reviews your application in detail to assess your eligibility.
6. Mortgage Offer: If approved, you'll receive a formal mortgage offer.

Each of these steps can impact the overall timeline, so let's explore them in more detail.

How Long Does Mortgage Approval Take?

The time it takes to get a mortgage approved depends on several factors:

• Complexity of Your Application: If your financial situation is straightforward, the process may be quicker. However, self-employed applicants or those with irregular income may face longer processing times.
• Lender Efficiency: Some lenders are faster than others. Online lenders, for example, may process applications more quickly than traditional banks.
• Property Valuation: The time taken to arrange and complete a property valuation can vary, especially if the property is unique or requires additional checks.

On average, it takes 2 to 6 weeks from submitting your application to receiving a mortgage offer. However, this can vary depending on the factors mentioned above.

How Long Does It Take to Get a Mortgage Offer?

Once your application is approved, you'll receive a formal mortgage offer. This typically takes 1 to 2 weeks after the underwriting process is complete. The offer is usually valid for 3 to 6 months, giving you plenty of time to complete the property purchase.

How Long Does a Mortgage Application Take Through a Broker?

Working with a mortgage broker can significantly speed up the process. Brokers like WIS Mortgages have access to a wide range of lenders and can help you find the best deal for your circumstances. They can also guide you through the application process, ensuring all documents are submitted correctly and promptly.

On average, using a broker can reduce the time it takes to get a mortgage by 1 to 2 weeks, as they handle much of the legwork for you.

Tips to Speed Up Your Mortgage Application

If you're eager to move into your new home as quickly as possible, here are some tips to speed up the process:

1. Get Your Documents Ready: Prepare all necessary documents, such as payslips, bank statements, and proof of identity, before starting your application.
2. Check Your Credit Report: Ensure your credit report is accurate and up to date. Dispute any errors promptly.
3. Be Honest and Accurate: Provide accurate information on your application to avoid delays caused by discrepancies.
4. Respond Quickly: If the lender requests additional information, respond as soon as possible.
5. Use a Broker: A mortgage broker can help you navigate the process efficiently and avoid common pitfalls.

Conclusion

So, how long does a mortgage application take? While the average timeline is 2 to 6 weeks, this can vary depending on your circumstances and the lender you choose. By preparing in advance and working with a trusted broker like WIS Mortgages, you can streamline the process and move into your dream home sooner.

At WIS Mortgages and Insurance Service, we're here to make the mortgage process as smooth and stress-free as possible. Whether you're a first-time buyer, remortgaging, or looking for a buy-to-let mortgage, our experts are on hand to guide you every step of the way.

Contact us today for a fee free advice or to start your mortgage application.

As a mortgage is secured against your home, it may be repossessed if you do not keep up the mortgage repayments.

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