Online Mortgages

Researching the location and type of property you want helps you make the right decision. The period it takes to find your ideal property will vary. This will depend on the market and your chosen location. It may take weeks, but it could take months, and it’s best to give yourself the time to do it thoroughly.

During this time, using our mortgage calculator to find out how much you could borrow can help ensure you look for houses you can afford.

There are several steps to apply for a mortgage. Some steps involved are using your Agreement in Principle, selecting a mortgage rate and filling in your application form. Once you’ve submitted the application, several checks are needed. These include understanding if you can afford the mortgage and reviewing your credit history.

You will need to provide documents, including bank statements and proof of your deposit. You can speed up the application process by having everything organised and ready. You can check the progress of your mortgage application using our customer dashboard.

It may be a good idea to order a survey early to avoid delays, as separate buyer surveys can take up to three weeks. Meanwhile, the typical turnaround time for a lender’s valuation is around two weeks.

After applying and receiving a valuation, a lender will issue a formal offer. With NatWest, you could receive an offer the next working day when you apply online. After approval, an offer usually lasts six months.

Conveyancing is the legal side of your mortgage and involves all the processes to transfer ownership of the house to you from the current owner. It’s handled by solicitors and includes legal checks. The timeframe for conveyancing is around 6-12 weeks, longer if the purchase is in a chain.

To speed things up, ensure you reply to the searches and any questions asked quickly and liaise with the conveyancer to stay updated.

Once all the conveyancing is complete, the application will then move to exchange and completion. This is where the deposit is paid, the purchase is legally binding, and you will collect the keys. Exchange generally happens around two months after you receive your mortgage offer. Completion tends to be around one to four weeks after the exchange.