How long is a piece of string?

frugglewump

About how long does it usually take after having an offer accepted for the mortgage to go from 'in principle' to an actual mortgage?

I know it's very variable (see thread title) but people's experiences / best guess given the time of year would be useful. If the house we see tonight is ok & if we get a good price I'm trying to work out how long I have to dig up any extra £ required for stamp duty & conveyancing fees.

I was also trying to work out if it is worth reducing cc limits for the check as i would for a new cc card, but on asking barclaycard today any limit reduction wouldn't be communicated to experian until the end of the month.

Ember999

My mortgage was passed within 24 hours of them receiving the application. They received it on the Monday, I called Tuesday to see how long it would take and I was told the 'offer of mortgage' was going out in the mail that night (on the Tuesday!) Wow...think it was the quickest mortgage in history lol

dunstonh

In principle means that if everything checks out, they will lend you x amount. However, it also includes the valuation report coming out and nothing being highlighted as a problem to the lender.

So the boxes are getting ticked at various stages. Its not something that happens all at once.