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How long did it take you from mortgage offer to exchanging contracts and completion?

5 replies

Crazyoldmaurice · 20/10/2020 15:53

1st time seller and just found out our buyer got their mortgage offer through yesterday. Wondering how long it will take them from mortgage offer to exchange? Aware its different for everyone but keen to hear of people's experiences. We are living with inlaws so no chain our end and buyer is a first time buyer.

OP posts:
Bells3032 · 20/10/2020 15:54

Depends on what's done on the legal side. If that's all complete can do it in a week.

We've been two months and counting

EmmaStone · 20/10/2020 16:27

I've bought and sold several times, I don't think I've ever done offer on house to completion in less than 3 months. When you say mortgage offer, is this the mortgage in principal, or has the bank given notice its ready to release funds? Where are you on searches, surveys, queries etc?

Roomba · 20/10/2020 16:35

3.5 months for me, as the sellers seemed to have instructed the slowest solicitors in the UK (no chain, all v straightforward).

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unicornparty · 20/10/2020 16:42

I've been over 3 months so far and still got no date for completion.

Desmondo2016 · 20/10/2020 16:45

We had a super quick process this time round with 5 weeks from finding the house we loved, putting ours on, accepting an offer, sorting the mortgage and exchange / complete. That is exceptional. The thing that had held up muline previously was legal searches. Once they are done and the mortgage offer is in (assuming no chain or every step of the chain is in the same ready position) then it can be pretty much instant if all parties want it to be.

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