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How long have people waited for mortgage offers?

Snookie12cat
Snookie12cat Posts: 805 Forumite
500 Posts Third Anniversary Name Dropper
in House buying, renting & selling
Would be interesting to see how long everyone is waiting from application to offer.
Mine was approved in 24 hours, but offer in 7 days - YBS.

Comments

  • alexjared93
    alexjared93 Posts: 30 Forumite
    Third Anniversary 10 Posts Name Dropper
    Full application to bluestone 05/01
    valuation booked 06/01 
    valuation completed 10/01

    Awaiting news, but broker says I should hear back tomorrow. Hoping it’s good news and I’m almost at the end of the line…
  • K_S
    K_S Posts: 6,880 Forumite
    1,000 Posts Fourth Anniversary Photogenic Name Dropper
    edited 11 January 2022 at 9:15PM
    @Snookie12catFWIW, here are the app-offer stats (all calendar days) based on the mortgages I did in 2021 -
    Min - same-day
    Max - 56
    Average - 14 
    Median - 11

    I am a Mortgage Adviser - You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. 

    PLEASE DO NOT SEND PMs asking for one-to-one-advice, or representation.

  • Pow11890
    Pow11890 Posts: 155 Forumite
    100 Posts Second Anniversary Name Dropper
    edited 11 January 2022 at 10:13PM
    We used Barclays and got a valuation with 72 hours and offer within 5 working days from application submission. They were super quick for us last autumn in the latter part of 2021.  We had all our deposit (sow/Sof), salary, bonus & other financial paperwork ready to go months ahead. Didn’t miss anything so In turn didn’t let them question anything. Made sure it all went smoothly.. 
  • RS2OOO
    RS2OOO Posts: 389 Forumite
    Seventh Anniversary 100 Posts Name Dropper
    Initiated HSBC online mortgage application 8th August which referred me to a mortgage advisor (due to part porting) to complete the application.

    Phoned up 9th August and was told 4 weeks lead time for a Zoom call appointment or 6 weeks for a phone appointment so I chose the former.

    Zoom Appointment booked in for 7th September. Took 2.5 hours!

    Mortgage offer received 9th September.


  • RelievedSheff
    RelievedSheff Posts: 12,691 Forumite
    10,000 Posts Sixth Anniversary Name Dropper Photogenic
    5 days with the Halifax including a physical valuation of the property.

    Would have been sooner but I keyed in a piece of information information wrong on the application form so we had to go through it again a couple of days later with an advisor from Halifax. 
  • Mahsroh
    Mahsroh Posts: 769 Forumite
    Sixth Anniversary 500 Posts Name Dropper Combo Breaker
    For us it was 11 days from application to offer. That was with Natwest but it was back in May when the market was crazy due the stamp duty relief/ discounts. 
  • BalanceTransferDude
    BalanceTransferDude Posts: 24 Forumite
    Eighth Anniversary 10 Posts Name Dropper Combo Breaker
    I applied direct with Natwest on 17 Dec (Friday night) online and had my mortgage offer on Thursday 23rd December. It was unbelievably quick, with a desktop valuation carried out as opposed to a physical one.
  • Lumiona
    Lumiona Posts: 259 Forumite
    Seventh Anniversary 100 Posts Name Dropper Photogenic
    Ours was 4 weeks with Santander. Straightforward finances, issues with ID delayed a week or so.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Peoples personal circumstances differ. There are quiet and busy periods of the year for mortgage business. Underwriters and surveyors take holidays. Covid may have hit one organisation hard. Time taken means very little in the broader scheme of things. 
  • mandycurl
    mandycurl Posts: 42 Forumite
    Fourth Anniversary 10 Posts Name Dropper
    I went direct with Barclays. From mortgage broker initial appointment to formal offer took 24 hours. No valuation needed (not sure why, unless desktop) However, i bank with them, single application with permanent income. 
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