What Happens After a Mortgage Offer?

A mortgage offer letter lands and it feels like the finish line. It isn't. Getting the offer means your lender has approved your loan in full, but you are typically still 8 to 12 weeks away from picking up the keys. Between now and completion day, your solicitor still has to finish the legal work on the property, your lender still has conditions to satisfy, and everyone else in your chain needs to move at roughly the same pace.

This guide walks through exactly what happens next: the step-by-step process from offer to completion, realistic timescales for different property types, the conditions hidden in the small print of your offer letter, what can derail things at this stage, and how to keep your own move on track. If this is your first purchase, read it alongside our guide to first-time buyer mortgages so you understand both sides of the process together.

Mortgage offer vs Agreement in Principle

An Agreement in Principle, sometimes called a Decision in Principle, is an early, soft indication from a lender based on a quick credit check and the figures you gave them. A formal mortgage offer is different. It arrives only after full underwriting, a property valuation, and verification of your income, deposit, and identity documents. The offer is the lender's binding commitment to lend, subject to the conditions written into the offer document itself.

Most mortgage offers stay valid for 3 to 6 months, though the exact window depends on your lender. Some high street lenders offer 6 months' validity, while other lenders cap it at 3 months. Your lender expects your purchase to complete within that window. If conveyancing runs on past the expiry date, you may need a formal extension or, in some cases, a fresh application and a new valuation.

Once your offer arrives, two things start happening at the same time. Your solicitor pushes on with the legal side of the purchase, and your lender's own processes tick along in the background. Here is the order most purchases follow, with a realistic timeframe for each stage.

1. Review and accept the mortgage offer

Read the offer document in full, not just the headline rate and monthly payment. Check the loan amount, term, product fees, and any special conditions attached to it. Most lenders ask you to sign and return an acceptance form within a set number of days, so do not leave this sitting in your inbox. Timeframe: 1 to 3 days.

2. Your solicitor reviews the offer conditions

Your solicitor checks the offer against the terms of the sale and flags anything that needs action, such as a retention, an indemnity policy, or extra documents the lender wants before releasing funds. This is also a good moment to check your conveyancing fees quote covers everything the lender is asking for. Timeframe: 2 to 5 days.

3. Conveyancing searches are ordered

If searches were not started earlier in the conveyancing process, your solicitor orders them now: local authority, water and drainage, and environmental conveyancing searches among them. These can take 1 to 4 weeks depending on the local council, which is why many solicitors order them as early as possible rather than waiting for the mortgage offer. Timeframe: 1 to 4 weeks.

4. Enquiries raised and answered

Your solicitor raises pre-contract enquiries with the seller's solicitor based on the title, the search results, and the property information forms. The seller's solicitor answers these, sometimes after chasing the seller for paperwork or clarification. Timeframe: 1 to 3 weeks, longer if you are in a chain.

5. Buildings insurance arranged

Nearly every mortgage offer requires buildings insurance to be in place from the day you exchange contracts, and sometimes from the offer date itself for new build properties. Arrange this ahead of exchange so there is no last-minute scramble. Timeframe: same day to a few days.

6. Sign the mortgage deed

Your solicitor sends the mortgage deed for signature, confirming you agree to the lender's charge over the property. This is usually signed alongside the contract, well before exchange, and witnessed as your lender requires. Timeframe: 1 to 2 days.

7. Exchange contracts

Once searches are back, enquiries are answered, and both sides are ready, your solicitor and the seller's solicitor exchange contracts. From this point the transaction is legally binding and a fixed completion date is set. See our guide to exchange of contracts and completion for the full detail. Timeframe: agreed on the day, typically 1 to 2 weeks before completion.

8. Solicitor requests mortgage funds

After exchange, your solicitor formally requests the mortgage funds from your lender, timed to arrive a day or two before completion. Lenders usually need 3 to 5 working days' notice, so this has to be diarised carefully alongside everyone else in the chain. Timeframe: 3 to 5 working days before completion.

9. Completion day

Funds move from your lender and your own account to the seller's solicitor, the balance is settled, and the keys are released, usually early to mid-afternoon. Your solicitor then registers the transfer and the new mortgage with the Land Registry. Timeframe: completion day itself.

On average, it takes 8 to 12 weeks to move from a mortgage offer to completion, in line with typical UK Finance industry timescales for a straightforward purchase. That average hides a lot of variation, though. A chain-free purchase with searches already back can complete in 6 to 8 weeks. A leasehold flat in a long chain can easily stretch past 16 weeks.

What speeds the process up

• No chain: nothing above or below you in the transaction means fewer people waiting on paperwork.
• Searches already back: if your solicitor ordered searches before the offer arrived, weeks are saved later.
• A responsive solicitor: firms that answer enquiries within a day or two keep momentum instead of letting them sit.
• Freehold property: no management company or freeholder to chase for information.

What slows it down

• Long chains: every extra link is another set of solicitors, another lender, and another point where delays can appear.
• Leasehold complications: waiting on management packs or freeholder consent can add weeks on its own.
• Lender conditions: retentions or extra documentation requests push back the point at which funds can be requested.
• Slow local authority searches: some councils take four weeks or more to return results.

The table below shows typical timeframes by property type, from offer to completion, so you can benchmark your own purchase. If your move is already taking longer than these ranges, our guide on how long conveyancing takes covers the most common causes in more depth.

Every mortgage offer comes with conditions attached, and it is worth reading them with your solicitor rather than skimming past them. Some are standard and apply to almost every borrower. Others are specific to your property or your financial circumstances, and missing one can hold up your move at a later stage.

• Satisfactory survey or valuation: confirmation that the property is worth what you are paying and provides adequate security for the loan.
• Buildings insurance in place: cover must start no later than the day you exchange contracts.
• Proof of deposit source: lenders want a paper trail showing where your deposit came from, particularly for gifted deposits.
• Indemnity insurance: required for certain legal defects, such as missing building regulations certificates or unregistered land.
• No material change in circumstances: your income, employment, and credit position must stay broadly as they were when you applied.

Some offers also include special conditions specific to your case, and retention clauses, where the lender holds back part of the loan until agreed repairs or works are completed after you move in. A retention of £2,000 to £5,000 for outstanding repair work is common on older properties. Always ask your solicitor to talk you through every condition in your offer letter before you sign the acceptance form, so nothing catches you out later in the process.

Most purchases proceed from offer to completion without drama, but it helps to know what can go wrong at this stage and what your options are if it does.

Mortgage offer expires before completion

If conveyancing overruns your offer's validity, typically 3 to 6 months, your lender will usually extend it or ask for an updated valuation and affordability check. Extensions are common and rarely refused outright, but they can add another 1 to 2 weeks while the lender processes the request.

Circumstances change

A new job, a pay cut, a new loan, or a missed payment can all affect your mortgage between offer and completion. Lenders can, and sometimes do, withdraw an offer if your circumstances change materially. Avoid taking on new credit, changing jobs, or making large unexplained withdrawals until after completion.

Survey reveals issues requiring renegotiation

If your survey flags problems the valuation did not pick up, such as damp, subsidence, or an unsafe roof, you can renegotiate the price or ask the seller to fix the issue before completion. Your lender may also want to see evidence the problem has been addressed before releasing funds.

Conveyancing delays

Slow local authority searches, a stuck chain, or a seller's solicitor who is difficult to reach can all delay exchange. A long delay before exchange also opens the door to gazumping, where a seller accepts a higher offer from someone else before contracts are exchanged.

Down-valuation by the lender

If the lender's valuer values the property below the agreed price, your lender will only lend against the lower figure. You can challenge the valuation, renegotiate the price with the seller, or make up the shortfall with a larger deposit if you have the funds available.

You cannot control every part of the process once your offer arrives, but there is plenty within your control that keeps your own file moving and avoids you becoming the reason for a delay elsewhere in the chain.

• Respond within 24 hours: answer any solicitor query or document request the same day or the next, rather than letting it sit for a week.
• Chase your solicitor weekly: a short check-in call or email keeps your file near the top of the pile.
• Have your deposit ready: keep proof of funds and a clear paper trail for any gifted deposit ready before it is asked for.
• Arrange buildings insurance early: have a policy ready to start from the exchange date so it is one less thing to organise at the last minute.
• Keep the chain informed: share your solicitor's contact details with your estate agent so they can help resolve hold-ups quickly.
• Choose a responsive solicitor: if you have not yet instructed one, prioritise firms known for fast turnaround over the cheapest quote alone.

None of this guarantees a fast move, since much depends on the rest of your chain, but staying responsive and organised on your side removes the most common cause of self-inflicted delay.