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It will take a few days for the application to go through but the big delay at the moment is valuations as it’s really busy for surveyors/valuers at the moment, we waited 10 days for a valuation and that’s with santander being so busy they farmed out jobs to Town & Country, our buyer has just had a ‘desktop valuation’ probably due to not having somebody available (this is Barclays who have good rates so are snowed under).
just getting an ordinary survey booked can take 2 weeks. -
Yep, you’re thinking about it the wrong way, the MIP takes 10 minutes as it’s spat through a computer algorithm. Actually getting a mortgage requires a valuation of the property by a human, and assuming that human agrees with what you’re offering. It could be weeks or not at all.
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Mr_Smyth
Jameo
@frankohara
What is the current wait time between getting a mortgage in principle and the actual mortgage going through after an offer?