Buying a house is a major milestone, and one that’s thrilling, but it can be uncharted territory. From straightening out your finances to finally picking up the keys, there are a series of stages in the home-buying journey, each with its own timing. Some stages happen fast, while others can drag on a bit longer than hoped (especially when paperwork and people are in the mix).

Knowing what to expect with timing eases the stress of the unknown and keeps things flowing smoothly. We’ll cover each of the steps in the house-buying process and how long you can expect it all to take.

Before You Start: Financial Preparation

Before you even begin to browse through houses, it’s a good idea to make sure you’re in a solid financial place. This step can occur over a month or several months; it all depends on your situation, but it’s the cornerstone of everything else you do next.

First, set a realistic budget. Consider how much deposit you can afford, what your monthly mortgage repayments will be, and any other additional costs, such as solicitor fees, surveys, and stamp duty. Then, begin saving or increasing your deposit. The larger the deposit you are able to put down, the better the mortgage deals that you’re likely to be offered.

It is also a good time to review your credit score. Lenders will weigh this when evaluating how risky it is to lend to you, so a strong score can do great things for your odds of approval. If your credit report could use some work, allow yourself time to do the fixing before you appl. This is only a factor.

Finally, explore your mortgage options. You could also talk to a mortgage broker or lender to give you an idea of what you’d qualify for. Many opt to get a mortgage in principle at this point, which demonstrates to sellers you are serious and gives you a better idea of what you can afford when you start hunting for a house.

Mortgage in Principle & Budgeting

Once your money is in check, it’s time to secure a Mortgage in Principle, which may just be called an Agreement in Principle (AIP). This is a small step in the process, often only one to two days, but it is an important part of the house-buying process.

An AIP is a certificate from a lender that tells you how much they’d be happy to lend to you based on a couple of checks. It’s not a cast-iron certainty, but it’s enough to provide a ballpark number and to demonstrate to estate agents and sellers that they’re dealing with a serious buyer.

Now that you have your AIP, you can proudly stipulate your price range. This narrows your searches and keeps the search realistic, so you won’t be heartbroken when you fall in love with a home that’s simply out of reach. It’s like drawing your house hunting boundaries: crisp, precise, and grounded in what you can afford.

Finding a Property

This brings us to the fun part: finding an actual place to live. Depending on how tailored your needs are and the market, this stage may go fast or take several weeks.

Begin by signing up with local estate agents and carefully monitoring property websites. Let agents know your wish list so that they can send over anything that closely matches your ideal home. It’ll make you feel like the picky person you probably are, but also help to narrow things down faster.

As you begin to view homes, be as open-minded as possible while remaining true to yourself. It’s tempting to be swept up in the possibilities, but there are practical considerations to think through as well: What are the surroundings like? What is the condition of the property? Does the size of the studio suit you now and going forward in the future?

As you look at more and the memories start to blur, begin shortlisting the ones that really haunt you. Some find “the one” straight away, while for others it takes seeing a few to really get a handle on what’s perfect. Don’t be too hasty as it’s an important decision, and the right home is worth waiting for. Once you’ve found it, you’re ready to take the next big step: making an offer.

Offer Accepted: What Happens Next?

When you do find it, it’s time to make an offer. This is typically done through the estate agent, and while it’s fine to offer below the asking price, do prepare for a bit of back-and-forth. You may need to hurry or improve your offer if other buyers are interested.

After the offer is accepted, things begin to feel somewhat more grounded. But keep in mind: It’s not legally binding at this point. It’s still not officially yours!

Now it’s time to start your official mortgage application. Although you already have an Application in Principle, this is where the lender reconsiders your finances, the property, and any associated risks. They’ll likely ask for documents, including payslips, bank statements, and ID, and arrange a valuation of the property.

This stage can take a week or two, and it’s a good time to remain responsive. The quicker you provide information, the less hassle you will encounter. While that’s happening, you will also need to engage a solicitor or conveyancer to deal with the legal side of things, which again, runs parallel to the mortgage process and signals the beginning of the conveyancing phase of buying a house.

Conveyancing Process & Surveys

Once your offer’s accepted and your mortgage application is in progress, the conveyancing process gets underway. This is a house’s legal side; it’s the least glamorous side, but it is completely necessary to buy a home, and it can take between eight and sixteen weeks.

Your solicitor or conveyancer will do some checks to ensure everything’s in order. These services include things like local authority searches (so that any planning problems, roadworks, or flood risks are flagged), checking the property title, and ensuring that there are no legal surprises attached to your new home. They’ll also draw up the contract and look over paperwork that the seller’s solicitor sends over.

Your mortgage lender will typically organise a basic valuation of the property at the same time. To gain a better understanding of the property, you may also wish to commission a more detailed survey, such as a full structural survey.

If the survey reveals any issues, such as damp, roof damage, or structural problems, this could be your opportunity to renegotiate the price or demand that the seller rectify the issues before completion.

This part may sometimes seem to drag, particularly if you’re waiting for updates to arrive. However, do try to be patient and stay in contact with your solicitor; little nudges can keep the process moving along. With all the legal checks out of the way and the contracts ready, you’re pretty much at the final straight: exchange of contracts and completion.

Final Mortgage Offer & Exchange of Contracts

Once the checks and surveys on which the mortgage is based have been carried out, you will be issued your final mortgage offer. This is when the lender officially confirms they’ll lend you the money; it’s a significant milestone because it means you’re one step closer to becoming a new homeowner.

With the mortgage offer received, you and the seller will exchange contracts. This is the point at which the sale becomes legally binding for both parties. You’ll sign the contract and pay over your deposit (usually 5-10% of the price) to your solicitor, who keeps it safely until completion.

When you exchange contracts, you will also agree on your completion date (the day you get the keys to the house). And after that, walking away from the deal generally involves penalties, so it’s a major commitment.

This process usually requires one to two weeks, and timings often vary according to how efficiently everyone responds and organises paperwork. Stay in touch with your solicitor to ensure nothing gets held up.

After that, it’s a matter of waiting for completion day, when, if everything goes smoothly, the remaining funds are transferred and you receive the key to your new home.

Completion Day & Moving In

The big day is completion day, the moment you’ve been waiting for. It typically occurs one to two weeks after contracts are exchanged. Today, your solicitor will transfer the remaining purchase money to the seller’s solicitor, and when that is done, you will be officially handed the keys.

This is when the house really becomes your home, so you’ll want to plan movers, pack and organise utilities ahead of time to prevent any last-minute panic.

If you’re investing in a new build or moving out of a rental, timing can be even more crucial. Schedule it in with your removal company and your future or current landlord or seller to make the switch as seamless as possible.

They can be a bit of a frantic day, but take some time to enjoy it all too. You’ve just undertaken one of life’s biggest journeys, and your new home awaits.

Common Delays in the Timeline

Despite even the best-laid plans, delays accumulate, and they are frequently irritating. One of the most awkward factors is tardiness in communication from solicitors or conveyancers. If documents are slow to move or questions are answered slowly, it can slow everything down.

Chains can also cause delays. If you are buying it subject to someone else in the chain selling theirs, any hold-up at one end of the chain can have repercussions all the way along it.

Another frequent pitfall is misplaced or faulty paperwork. Whether it’s ID evidence, financial statements, or property information, failing to provide it in a timely manner can slow down mortgage approvals or legal checks.

The last survey factor may also lead to sudden gaps. If issues arise that require additional digging or renegotiation, it can take weeks to resolve.

Taken all together, these hiccups can add as much as a couple of weeks to more than a month to the process, so it’s essential to be patient, stay in contact with your team, and be ready to move quickly when the time comes.

Conclusion

Purchasing a house seems to involve only a few steps from a distance; in reality, there are many, from obtaining your finances to hunting for a place you like and signing the papers. It can be overwhelming, but it’s nice to know what to expect to help make the process a little less daunting. 

Keep in mind that delays do happen, and every buyer’s timeline is unique. And if you’re a first-time buyer, just focus on taking it step by step, ask questions and don’t be afraid to rely on professionals. Before you know it, you will be turning that key and making your new house a home.

Your home/property may be repossessed if you do not keep up repayments on a mortgage or other debt secured on it.

There may be a fee for mortgage advice. The precise amount will depend upon your circumstances and will be agreed with you before proceeding, but we estimate it will be £395.