Mortgage offer issued

M_CP

Hello,

I’ve been told that my mortgage offer was issued last Friday (finally! :T), my mortgage application was sent by my broker on the 18th December…

All searches have been done, and at the moment the only thing that we needed to keep the process moving was the mortgage offer.

Does anyone know about how long would it be before my solicitors set an exchange and completion date?

I’m so excited to get my own place, but the process has been going since mid-October

Lokolo

It's been 2 months and you're getting fed up it's taking long? You're in for a shock.

The average time is around 3 months.

You should ask your solicitor what the status is of your progress, estate agent for the chain progress. The chain all needs to be ready before you can set exchange and completion dates.

M_CP

Hi,

Everything has been done already, the process was frozen because we didn't have the offer.

Both the sale agent and my solicitors were waiting on that...

An it has been three months not two.

kingstreet

Your solicitor will ask you for your preferred completion date(s) and these will be put to the other parties in the chain. Only once there is an agreed date can contracts be exchanged.

Your deposit has to be in your solicitor's hands before contracts can be exchanged.

All the pre-contract enquiries have to be issued by your solicitor and answered by the vendor's solicitor.