In this guide
A mortgage offer is the lender's formal confirmation that they are willing to lend you a specific amount on specific terms. It is typically valid for three to six months. Your solicitor will receive a copy and will check the conditions before proceeding.
1
Review the offer. Check the interest rate, monthly payment, fees, and any special conditions. Your broker will walk you through it.
2
Solicitor completes legal work. Searches, enquiries, and contract review continue in the background.
3
Arrange buildings insurance. Most lenders require this to be in place from exchange of contracts.
4
Exchange contracts. The purchase becomes legally binding and the completion date is set.
5
Completion. The mortgage funds are released, the seller receives payment, and you collect the keys.
- Do not change jobs without speaking to your broker first. Lenders may reassess your application.
- Do not take on new credit such as car finance or credit cards. This affects your affordability calculation.
- Do not miss any payments on existing commitments. Even a single late payment can trigger a review.
- Do not make large unexplained deposits into your bank account. Lenders may request updated statements or further checks before completion.
Timing varies with the legal work and chain; ask your solicitor for an estimate rather than relying on a fixed number of weeks. If the searches are already done and the contract is ready, exchange can happen within days of receiving the offer.
Questions about your offer?
We will talk you through every line and make sure you understand what you are committing to.
Speak to us