Getting ready to take your first step on the property ladder? We offer a completely free first time buyer intro call. We will spend 30 minutes explaining the whole process, step by step. Find out what to look for in a property, the types of mortgages we have for you, how to apply and much more. We can even get you a Decision in Principle so that you can prove to the Estate Agents that you’er ready to proceed.
The typical first time buyer mortgage process takes on average 3 – 12 weeks. This time frame is wide because there are many factors at play here. The mortgage for example, could be approved in 24 hours. The mortgage offer could be produced within 2 – 6 weeks. The actual process can then add more days or weeks to this process depending on:
1. Whether or not the solicitor is ‘on the ball’, OR if they encounter any problems/issues along the way which would need to be resolved and/or
2. The seller and the rest of the chain would need to have their ‘ducks lined up in a row’ in regard to their mortgages being sorted and their completion and moving in dates all being agreed upon. If one of these factors breaks down, or someone in the chain pulls out, the process can really drag on.
What other fees should i need to consider? Here’s a list. Please bear in mind they are’nt always applicable.