The Mortgage Process
The Mortgage Process Step by Step
From your first chat to the day the money is sent, here is how the mortgage process works in Scotland, how long each stage takes and what you need at each step.
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The Big Picture
Most Mortgages Follow the Same Milestones
Knowing what comes next takes the stress out of it. Here is what happens and roughly when.
- ✓Mortgage in principle: usually same day
- ✓Full application: submitted once your offer is accepted
- ✓Valuation and underwriting: often one to three weeks
- ✓Mortgage offer: sent to you and your solicitor, then funds are released on the date of entry
How We Help
The Five Milestones
What happens at each stage.
Fact Find and Advice
We look at your income, outgoings, credit and goals, then recommend a lender.
Mortgage in Principle
A first look from the lender so you can view and offer with confidence.
Full Application
Once your offer is accepted we submit everything with your documents.
Valuation and Underwriting
The lender values the home and checks your paperwork.
Offer and Completion
The offer is issued, missives conclude and funds are sent on the date of entry.
What You Need
Documents to Have Ready
Having these ready speeds everything up.
Common Questions
Mortgage Process Questions, Answered
The things buyers ask us most.
How long does the mortgage process take?
From full application to offer, often two to four weeks, but it varies by lender and how quickly paperwork is sent.
What happens after my mortgage is approved?
The lender sends the offer to you and your solicitor. Your solicitor then arranges for the money to be sent on the date of entry.
Can a mortgage be declined after valuation?
Yes, if the valuation comes in low or the lender is not happy with the property.
Do I need a broker?
You do not have to use one, but a broker can compare lenders and handle the application for you.
How long is a mortgage offer valid?
Usually around three to six months, depending on the lender.
What slows the process down?
Missing documents, valuation issues and changes in your circumstances are the most common causes.
Related guides
- Buying a house in Scotland step by step
- Missives and closing dates explained
- Mortgage in principle before viewing
- What affects mortgage approval
- All mortgage questions answered
Written by Tony Flynn, mortgage broker at Tony Flynn Mortgages, helping homebuyers across Lanarkshire and Scotland. This page is general information, not personal advice. Speak to Tony about your own circumstances.
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