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Timescales for buyers mortgage

4 replies

Nitgel · 20/02/2024 18:03

We accepted an offer on 28th Jan and the buyers went to 'finalise' their mortgage on 8th Feb, we have heard nothing since. is this normal? I am itching to get our survey done but EA says wait until they get ours done.

Is this timescale within normal times?

OP posts:
Toooldtoworry · 20/02/2024 18:08

So many factors determine this but many lenders have been inundated with applications before rate change and underwriting turnarounds are longer than usual due to this according to my mortgage broking colleagues.

Nitgel · 20/02/2024 19:36

OK thanks, that's helpful. Wonder how long the average wait is.

OP posts:
Toooldtoworry · 20/02/2024 19:58

I can see if I can find out tomorrow but I'd estimate 4 weeks.

Nitgel · 20/02/2024 20:25

Thanks :)

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