How Long After Agreement In Principle To Mortgage Offer (And Why)?

How Long After Agreement In Principle To Mortgage Offer (And Why)?

Exact Answer: 15 Minutes

Money is a very important factor in this world and it has been since it was discovered. People need money for a lot of purposes. Some people have more money while some people have comparatively less money. Everyone uses that money according to their means of livelihood. Going for a vacation, pursuing higher studies, recreational activities, etc., all need money to happen.

After completing higher studies, people look for a job to earn money. Sometimes when a person is buying a property or expensive care, he or she may take a loan from the bank as the transaction made in these circumstances are huge. Other than a loan, a person can also agree to a mortgage. A mortgage agreement can be done in 15 minutes if all the documents are ready and correct.

How Long After Agreement In Principle To Mortgage Offer

How Long After Agreement In Principle To Mortgage Offer?

Mortgage With Proper Documents15 Minutes
Mortgage Without Proper DocumentsMore Than 2 Hours

It is just a matter of mere 15 minutes for the mortgage agreement to complete if all the right documents are presented correctly. Sometimes the agreement process can extend up to hours if the documents are not properly arranged or if there is some mistake in the documents. The mortgage lender reviews the documents thoroughly before concluding. The mortgage can be of any asset starting from the house, cars to office buildings.

For a mortgage in principle, few things are a must for the person. The first one is the passport, then is the income proof of that person, and lastly, the 3 months to 6 months bank statements of that person. In a few of the cases, the person looking for a mortgage contacts his or her account holder to do things faster. The account lender may be able to give the mortgage in principle in no time as he already has all the necessary details.


In banking terms, a mortgage is an agreement under legal jurisdiction. In this situation, a bank or building society or any other organization lends money at an interest rate to an individual or a company in exchange for taking the debtor’s property. The agreement is made with the condition that if the debt is paid back, the creditor will have to give back the debtors’ property.

After agreeing, the debtor and the creditor conclude the mortgage in principle. But it does not end there. The mortgage needs to be approved before it can finally be put under action.

Why Does It Take Long After Agreement In Principle To Mortgage?

The time taken for an agreement in principle to mortgage to take place is just 15 minutes. By no means that is a long period. It is just a mere amount of time. But exceptions exist. Some of the agreements take hours to complete. If it is carefully looked into then taking hours is also not a very long time. The whole thing can be completed in a day and both the creditor and the debtor can go home without any worries.

The time taken to agree in the case of a mortgage depends on several factors. The first and very important thing is having a good credit rating, next is having an income that is both reliable and stable. The third important thing is the mortgage valuation survey outcome and the last one is if the debtor is buying a house from a person who is already in a hurry to move into his or her own new house.


The mortgage application process can be divided into two parts roughly. The time required to complete the second part will completely depend on how fast or how slowly the first part takes to complete. Hiring a mortgage broker in these circumstances will speed up the process and he or she will bring the best deals to their clients rather than letting their clients do all the work.


A mortgage is legal to work and requires a lot of patience. Everything should be checked properly otherwise the debtor’s property can be sabotaged. There are a lot of frauds in the market and people should be wary about them. Generally, a mortgage will be valid for six months and a remortgage offer can be applied for. It will stay for three months. In many cases, the lender gives a deadline to the debtor.

In case of a deadline, the debt should be paid within the mentioned date, otherwise, the debtor has to refresh the circumstances under which he or she is. Most of the frauds use the deadline method to completely own the debtor’s property.



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26 thoughts on “How Long After Agreement In Principle To Mortgage Offer (And Why)?”

  1. This article provides a detailed and informative explanation of the entire mortgage process. It’s helpful to understand the complexities involved.

  2. The author’s approach makes the topic accessible to everyone. It’s both engaging and enlightening.

  3. The process doesn’t seem as complicated as everyone makes it out to be, especially with the details provided here.

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