/ Mortgages

The Home purchase timeline

Just how long will it take to get your new home?

This is a typical time frame but every now and then issues pop up that are beyond your control. It should usually take 6- 16 weeks to complete on your home purchase.

So here we go:

Finding a Property:

set your goals, get your savings and mortgage deposit ready(including any mortgage schemes), identify your targets and approach sellers.

Put in a sensible offer:

don’t go too low and of course never too high
Once your bid is accepted you now need to get a property survey and instruct your solicitor to carry out checks for any legal issues.
If everything is fine you will need to pay your deposit and after which there is no turning back without a huge cost

It’s time for home completion:

Your lawyer will hand over the rest of the money owed on the property and the exchange of contracts process takes place after which the property is legally yours.

Further thoughts:


The mortgage process is somewhat straightforward. You will apply to a lender ( via a broker or directly) and if accepted the Lender will provide you with what’s commonly known as the mortgage in principle. This is usually only valid for 30-90 days and so you must be conscious of when you apply to the Lender and how long it will take for you to accept the offer which is dependant on how long your search for the perfect home takes. If you miss the time frame then don’t worry, if you followed our Mortgage guide you should be just fine.

In any case, there is no guarantee that the lender you have the Mortgage in Principle with might have the best rate for you as things might have changed within your search period. So definitely do another whole of market check. It’s always a good idea to use a broker as they can offer whole of market checks but if you are feeling confident then check out an up to date exclusive mortgage table.

Do not forget to get and store your mortgage illustration away:

this document essentially explains the key features of your mortgage and you will need it later on.If there are jargons you don’t understand be sure to ask for a clear explanation before moving on.

Watch of for the last minute surprise:

Gazumping and gazangin are big problems in the home buying process as the deal is legally obliged until you have exchanged contracts so any party can walk away albeit at a cost sometimes.


usually involves the seller making a decision not to sell because he or she has received a better offer while


is when the seller decides to stay in the property and abandon the deal. This could be for a variety of reasons but usually because they foresee a future price rise and want to get more value.
In any case, some of his tactics are just in place to drive more money out of your pocket so be mindful!

Congratulations – You are home!

Get the latest posts delivered right to your inbox

The Home purchase timeline
Share this

Subscribe to Huuti