🏡 How Long Does It Take to Get a Mortgage?
🏡 How Long Does It Take to Get a Mortgage?
When you’re buying a home, especially for the first time, one of the biggest unknowns is how long the mortgage process actually takes. At Asif Kola Realty, we believe in making the process clear, simple, and stress-free. So, here’s a breakdown of what to expect — and how to avoid delays.
🔑 Step 1: Get a Mortgage in Principle
⏱ Time: 24 hours to a few days
A Mortgage in Principle (MIP) is a quick indication from a lender or mortgage broker of how much they might be willing to lend. It’s not a guarantee, but it gives you — and sellers — confidence that you’re a serious buyer.
🟢 Top tip: Get this sorted before you start viewing homes.
📄 Step 2: Submit Your Full Mortgage Application
⏱ Time: 1–2 hours (your part)
Once your offer has been accepted, you’ll complete a full mortgage application. You’ll need to provide:
- Proof of identity and address
- Income documents (e.g. payslips or tax returns)
- Recent bank statements
- Property details
We can connect you with trusted mortgage brokers to make this step seamless.
🏦 Step 3: The Lender’s Assessment
⏱ Time: 1 to 3 weeks
The lender now looks in detail at:
- Your financial situation
- Your credit history
- The property’s value
They’ll also carry out a valuation, which might be desktop-based or involve an in-person survey.
🚨 Possible delays: Missing documents, self-employed income, or property issues.
📬 Step 4: Mortgage Offer Issued
⏱ Time: Within a few days after approval
If everything checks out, the lender will issue your formal mortgage offer — valid for 3 to 6 months. This is your green light to proceed with the purchase!
⏳ So… How Long Does It All Take?
- ✅ Fast-track applications: 2 weeks
- 🔁 Standard process: 3–4 weeks
- ⚠️ Complex cases: Up to 6 weeks
🚀 How to Speed Things Up
- ✅ Have your documents ready in advance
- ✅ Use an experienced mortgage broker
- ✅ Respond quickly to any queries
- ✅ Choose a lender known for fast turnarounds
💬 Need Help Finding a Mortgage Broker?
At Asif Kola Realty, we work with reputable brokers who know how to get things done quickly — and properly. Whether you’re a first-time buyer or moving up the ladder, we’re here to guide you every step of the way.
👉 Get in touch today to discuss your plans and take the stress out of your mortgage journey.
