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Mortgages
EXPERT ADVICE

How long does the house-buying
process take? From making the

application to getting
David Lauder, independent mortgage adviser with ESPC Mortgages,
talks us through the process and timelines of a property purchase. your mortgage accepted,
the time can vary
depending on your

question often asked by clients is: how Get a decision in principle chosen lender, and how
long does the whole process of buying This can typically be done within less
A a house take? The short answer is that than a week of gathering all your well-prepared you are.
no case is the same, but this is the ideal order personal information. The decision in principle
of events. can last for up to 90 days, depending on the
chosen lender.
Speak to a mortgage adviser
This is when you discuss your Start making offers and apply The mortgage application The conveyancing process
circumstances, your income, debt for your mortgage From making the application to Factoring in the time to get the
commitments and deposit size. Your mortgage Once you have appointed a solicitor, getting your mortgage accepted, mortgage approved, alongside the
adviser will then advise on potential options to you can start offering on properties, based on the time can vary depending on your conveyancing side that your solicitor will
consider and apply for a decision in principle the budget agreed with your mortgage adviser. chosen lender, and how well-prepared take care of, the ideal timescale – from a
with your chosen lender. When an offer is accepted, your mortgage you are. It can take two to three weeks, verbal offer acceptance to actually receiving
adviser will arrange a meeting where you however, at ESPC Mortgages, we pride the keys – is typically six to eight weeks.
complete a full mortgage application. ourselves on aiming closer to one to two However, it’s possible to do this sooner should
weeks, if circumstances allow. circumstances require, but each case is down
to individual factors.

The importance of an independent mortgage adviser can be very important for these
turnaround periods, due to the relationships they have with the mortgage lenders and also
the knowledge and understanding of what the most suitable solution for each client will be.
They will also be able to guide you on all the documents you need to prepare in advance
which means you are well prepared, allowing the process to be as smooth as possible.

ESPC Mortgages can help with all aspects of understanding your budget, applying for a mortgage and dealing with the
relevant insurance requirements. You can contact the ESPC Mortgages team on 0131 253 2920.

The information contained in this article is provided in good faith. Whilst The initial consultation with an ESPC Mortgages adviser is free and
every care has been taken in the preparation of the information, no without obligation. Thereafter, ESPC Mortgages’ charges for mortgage
responsibility is accepted for any errors which, despite our precautions, advice are usually £395 (£345 for first-time buyers). YOUR HOME MAY
it may contain. BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A
MORTGAGE OR OTHER LOANS SECURED AGAINST IT.
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