There’s no sugar-coating it — applying for a mortgage can feel overwhelming. Mortgage lenders, documents, credit checks, estate agents, solicitors… It’s a lot. But the truth? It’s a process—a step-by-step journey from idea to getting the keys to your new home. And once you know what to expect, the whole mortgage process becomes much easier to handle.
This guide is here to walk you through the entire mortgage application process. From that first mortgage agreement in principle to getting your keys on completion day — whether you’re a first-time buyer or not — we’ll show you exactly how it works.
1. Get a Mortgage Agreement in Principle (AIP)
The first step is understanding your budget, and that’s where a mortgage agreement in principle (AIP) comes in.
Your mortgage broker can arrange this for you by generating it themselves or requesting it directly from a mortgage lender. It’s a quick check that, based on your income, credit history, and basic financial information, a lender would be happy to lend you a certain amount — in theory.
You’ll usually need to provide:
- Your name and address history (past 3 years)
- Your income details (employed or self-employed)
- An overview of your monthly outgoings
- Consent for a soft credit check
It’s not a binding offer and won’t affect your credit score, but it’s incredibly useful. With an AIP in place, you’ll know exactly what you can afford, and estate agents will see you as a serious buyer. That makes your offer far more appealing, especially in a competitive market. It’s a key advantage before you even step through a front door.
Get a free mortgage in principle here >
2. Speak to a Mortgage Broker Early
Even though it’s listed as step two, speaking to a mortgage broker is often the best place to start.
You don’t have to figure out the mortgage process by yourself. Comparing lenders, interest rates, and eligibility rules can quickly become confusing — and making the wrong choice could cost you time or money.
That’s where a mortgage broker makes all the difference.
Brokers don’t just submit paperwork. They help you understand what you can afford, connect you with the right mortgage lender, and put your case together properly. If anything could hold you back — like a drop in your credit score or a complex income setup — they’ll catch it early and guide you.
Why use a broker?
Unlike banks or estate agents, brokers have access to a much wider range of mortgage deals, including specialist lenders that you can’t approach directly.
They’ll help you:
- Work out how much you can realistically borrow using a mortgage calculator
- Compare interest rates and repayment options
- Check your credit report and highlight red flags
- Recommend the best lenders for your circumstances
- Guide you through each stage of the mortgage application process
And if you’re using a fee-free mortgage broker like YesCanDo, you get all that support without paying a penny. No broker fees. No pressure. Just honest guidance.
3. Start House Hunting with Confidence
With your agreement in principle sorted and a mortgage broker guiding you, you’re in a strong position to start viewing properties that match your budget.
This is where it gets real, and having your AIP in hand shows sellers and estate agents that you’re not just browsing. You’re financially prepared and ready to make a serious offer.
Why estate agents take you more seriously with an AIP
Agents are much more likely to prioritise buyers who’ve already done all the groundwork. Your offer may be favoured if you’re up against others who haven’t secured an AIP, especially in a competitive market.
Choosing a house with confidence
While viewing homes, try to view them through a lender’s eyes. Some properties can cause problems during the valuation stage or raise red flags that delay or even stop a mortgage offer.
Things to watch out for:
- Flats above shops or restaurants
- Converted lofts or garages without planning approval
- Structural issues or signs of damp
- Leasehold properties with a short lease remaining
If you’re unsure whether a particular type of property could cause trouble later, just ask your broker before making an offer. That one conversation could save you weeks of delay down the line.
4. Collect Your Mortgage Documents
Once your offer has been accepted, it’s time to get everything together for your mortgage application. This is the stage where speed matters. The quicker your documents are ready, the faster your broker can get your file to the mortgage provider, which means fewer delays.
What do mortgage lenders need?
Most mortgage lenders will ask for:
- Proof of ID – usually your passport or driving licence
- Proof of address – a recent utility bill or bank statement
- Bank statements – usually the last 3 months for all active accounts
- Payslips – 3 months’ worth if employed, or 2+ years of SA302s and accounts if self-employed
- Proof of deposit – showing where your deposit money is coming from (savings, gift, equity, etc.)
- Agent and solicitor details – including the seller’s solicitor
They’ll also want details of any regular monthly payments, such as car loans, credit cards, childcare, or other financial commitments.
Learn more here about What information you’ll need to get a mortgage >
Why this stage matters
Underwriters check everything to assess risk. They’re not just confirming your income — they’re making sure you can afford the loan and that your financial story makes sense. Gaps, inconsistencies, or missing paperwork? That’s what causes most mortgage delays.
Your mortgage broker will double-check everything before submission and flag anything the lender might question — that’s the value of having an expert.
5. Submit Your Full Mortgage Application
Once your documents are in order, your broker submits your complete mortgage application to the lender. This is where the actual assessment begins.
Unlike the AIP stage, which was based on estimates, this part involves full checks. The lender’s underwriters review every detail to decide whether to formally approve the mortgage.
What does the lender look for?
They’re mainly focused on:
- Income stability
- Your ability to manage your monthly mortgage payments
- Your credit history — including past borrowing behaviour and any missed payments
- The accuracy and consistency of your financial documents
They’ll also take into account your total borrowing, the size of your deposit, and the property’s purchase price to determine if it’s a safe loan for them to approve.
How long does it take?
If your application is well-packaged and nothing unusual pops up, you could get a decision in just a few days. But if the lender requests more evidence or your income is non-standard, it may take a week or two.
This is where your mortgage broker is vital. They know how to package your case to help lenders say yes faster.
Wondering how long does a mortgage application take? < Find out here.
6. Mortgage Valuation Survey
Once your application’s in, the lender needs to check that the property is worth what you’ve agreed to pay. That’s where the mortgage valuation comes in.
This isn’t a full building survey. It’s a brief inspection, done on the lender’s behalf, to confirm the property value and make sure it’s suitable for lending. If the valuation doesn’t stack up, it can delay or derail your mortgage offer, so it’s a crucial step.
What happens during the valuation?
An independent surveyor is instructed by the lender to:
- Assess the property’s condition
- Compare recent sales in the area
- Identify anything that could affect value or resale
- Submit a report directly to the lender’s underwriter
The valuation is usually arranged within a week of application and may be done in person or remotely, depending on the property type.
How long does it take?
Most valuations are completed within 7–14 days of submission. The underwriter then reviews the report and confirms if they’re happy to proceed.
Can I get a more detailed survey?
Absolutely — and often, it’s worth considering. A mortgage valuation is limited. If you want to know more about the property’s condition, you can choose to upgrade:
- Homebuyer Report (Level 2) – ideal for modern, standard homes
- Building Survey (Level 3) – for older, larger, or run-down properties
- New-Build Snagging Survey – if you’re buying a brand new home
These optional surveys cost more but offer deeper insight and peace of mind — and they’re done for you, not the lender.
Learn more about the different Home Surveys for Buyers
What if the property is down-valued?
Sometimes, the surveyor values the property lower than the agreed purchase price. If that happens, you have options:
- Renegotiate with the seller
- Add more deposit money to cover the shortfall
- Ask your broker about other lenders with a different view
Down valuations are common, and your mortgage broker can guide you through it without panic or pressure.
7. Wait for the Mortgage Offer
Once your mortgage valuation is approved and your documents are fully assessed, the mortgage lender moves your application to the final stage: the mortgage offer.
This is the formal commitment. It confirms that the lender is happy with your financial situation, the property, and the risk involved — and that they’re ready to release the mortgage funds once your solicitor gives the green light.
What’s included in a mortgage offer?
Your offer will outline:
- The total loan amount
- The agreed interest rate and repayment type (fixed, tracker, etc.)
- The full mortgage term (e.g. 25 or 30 years)
- The conditions you must meet before completion
Your mortgage adviser or broker will check over the offer to make sure everything is correct. It’ll also be sent to your solicitor, who will begin preparing the legal side of the transaction.
How long does it take?
If everything goes smoothly, you’ll usually receive your mortgage offer within 2–4 weeks of submitting your full application. More complex cases may take a little longer.
Once you have your offer, you’re officially mortgage-approved — and one big step closer to completing the purchase.
Find Out: How long does a mortgage offer last and what to do if it expires
8. Conveyancing & Legal Work
While your mortgage is being processed, your solicitor (or conveyancer) will already be working in the background. This legal process, often referred to as conveyancing, covers everything needed to legally transfer the property into your name.
It often takes place alongside your mortgage checks but ramps up once your mortgage offer is in.
Learn more about Conveyancing Solicitors: what are searches when buying a house?
What does the solicitor do?
Your solicitor will:
- Order local authority searches
- Review the legal title of the property
- Raise any enquiries with the seller’s solicitor
- Check for planning restrictions, disputes, or boundary issues
- Confirm details with your agent and mortgage provider
They’ll also start preparing the contract of sale and ensure that any issues flagged by the survey or valuation are addressed.
How long does it take?
Some of this depends on how quickly third parties respond, especially the local council. Searches alone can take 2 to 4 weeks, sometimes longer during busy periods.
It’s a good time to stay responsive. Your solicitor might ask for things like ID, bank details for your deposit money, or signatures, and delays at this stage can ripple through the whole timeline.
9. Exchange Contracts
Once your solicitor is happy with the legal checks and has everything in place — including your signed mortgage offer and responses to all enquiries — it’s time to exchange contracts.
This is a significant moment in the mortgage application process. Exchanging contracts is when the sale becomes legally binding for you and the seller.
What happens at exchange?
- You sign the contract and agree on a completion date
- Your deposit money is transferred to the seller’s solicitor
- Everyone in the chain commits to the sale
At this stage, backing out would mean severe penalties, so your solicitor will make sure everything is watertight before proceeding.
When does this happen?
It is usually 1–2 weeks before completion, but it can be shorter or longer, depending on the chain. Some completions happen on the same day, but most prefer a gap to plan the move.
Once contracts are exchanged, you’re nearly there — just one final step left.
The next step is mortgage completion but what happens between exchange and completion?
10. Completion Day
This is the day everything becomes official. On the completion date you’ve agreed upon, your solicitor requests the mortgage funds from the lender, transfers the full payment to the seller’s solicitor, and confirms that the property is now legally yours.
The keys are released once those funds have cleared, and you can move in.
What to expect on the day
- If the property is empty and you’re not in a chain, you might get the keys by mid-morning
- In a longer chain, completions often happen later in the day, sometimes mid-afternoon
- Once complete, your solicitor will register you as the new owner with HM Land Registry
Your first monthly mortgage payment usually comes out around 4–6 weeks after completion. Your lender will confirm the exact date and amount.
Final tasks
- Set up your direct debit
- Arrange buildings insurance (required from exchange)
- Inform utility providers and council tax of your move
- Make sure you’ve got all warranties and handover documents
After weeks of preparation, you’ve done it. The mortgage is complete, and the home is yours.
Need Help Applying for a Mortgage?
Whether you’re a first-time buyer, moving home, or remortgaging, it pays to have someone in your corner. At YesCanDo Money, our mortgage brokers guide you through every step of the process:
- We’ll check your credit report
- Help you gather your financial documents
- Find the best deal for your needs
- Keep things moving so you complete on time
And the best part? Our service is free. No hidden fees, no nonsense.
📞 Ready to apply? Book a free mortgage consultation with one of our expert brokers.
Frequently Asked Questions
What if your mortgage application is delayed?
Delays can occur due to missing paperwork, gaps in employment, or extra checks from the lender. Property surveys or credit issues can also slow things down. Stay responsive—answer calls and emails quickly to avoid bottlenecks and keep your application on track.
What happens if the valuation comes back low?
A down valuation means the property’s worth less than you’ve agreed to pay. You can renegotiate, increase your deposit, or walk away. It’s common — and your broker will guide you through your best next step without jeopardising your approval.
When does the first mortgage payment come out?
Your first payment usually comes out 4–6 weeks after completion. The lender will confirm the amount and date. If you complete mid-month, the first payment may be slightly higher than normal as it covers a longer period.
Can you apply for a mortgage online?
Yes. Most lenders offer online applications, but working with a mortgage broker (in person or remotely) gives you expert guidance, faster support, and access to more deals — especially if your case isn’t completely straightforward.
How long does a mortgage offer last?
Most mortgage offers are valid for 3 to 6 months. If your completion date is pushed back, your broker can request an extension or help you reapply without starting from scratch.
What if interest rates rise during the process?
If your rate isn’t fixed, it could increase before the offer is issued. That’s why many buyers lock in a fixed rate mortgage early. Your broker can monitor the market and secure a deal that protects you from rising rates.
