How to Get a Mortgage

Mortgage applications don't have to feel like a mystery. Sure, getting a mortgage can feel pretty overwhelming if it's your first time but the secret to keeping things moving on the right track is knowing what to expect, getting your finances in shape beforehand and understanding the steps that lie ahead.

Whether you're buying for the first time, moving home or remortgaging, we've broken everything down for you so your mortgage journey can feel more straightforward and stress-free.

How Long Does It Take to Get a Mortgage?

The mortgage process usually takes anywhere from 8 to 12 weeks, depending on your situation and how quickly things move from one stage to the next.

Here’s a rough idea of how long each of the main stages can take:

• Mortgage in Principle (MIP): Usually ready anywhere from a matter of minutes or up to 24 hours, depending how you've applied (online, via email or telephone or in-person).

• Full Mortgage Application: Takes about 2–6 weeks to get an official offer.

• Completion: Can take up to 3 months if there’s a chain involved.

Although delays can happen that are simply out of your hands, generally, the more organised you are, the sooner you’ll have the keys to your new home. 

What Could Delay Your Mortgage?

Even with the best intentions, things can slow down or even grind to a halt. Here are the usual suspects that can cause delays to your mortgage process:

Missing paperwork: Always double-check that you’ve included everything requested and that it backs up what’s on your application before you submit anything.

Credit issues: If your report shows missed payments, defaults, or financial links to someone with adverse credit, it can hold things up or even lead to a rejection if you’ve applied with the wrong lender.

Changing jobs: Starting a new role or becoming self-employed mid-application might make lenders nervous. If it’s possible, try to delay any major employment changes until your mortgage has been sorted. 

Property problems: A low valuation or issues picked up during the survey can pause things.

Slow solicitors or agents: Sometimes the delay isn’t you — legal teams or estate agents might be the bottleneck.

Choosing the Right Mortgage Lender

Not all lenders work in the same way or have the same tolerance for different types of mortgage applications. Some are fast and flexible, others are picky with paperwork. The right lender for you depends on your circumstances, especially if you’re self-employed, have bad credit, or want to buy a unique property.

Here’s why your choice matters:

• You’ll stand a better chance of getting the approval you need using a lender who suits your situation. 

• It will save you a lot of time and hassle by eliminating the need to reapply if you’re rejected. 

• Some lenders are more lenient or understanding of complex situations than others.
  

How to Get Mortgage-Ready

Getting ready for a mortgage is all about putting yourself in the best possible position before you apply. The better shape your finances are in, the smoother your application will go.

Here’s a list of things you can do before you apply that will help you further down the track:

• Check your credit report: We recommend using Checkmyfile. It’s free for the first 30 days and provides a collective score based on information from the three main Credit Reference Agencies: Experian, Equifax, and TransUnion. 

• Keep your credit score healthy: Once you’ve got your report, take some time to fix any errors or ask to remove any outdated information that might be affecting your credit score. 

• Pay off debts: Reduce credit card balances and avoid making any new applications for credit unless absolutely necessary. 

• Save a bigger deposit: 5% is the bare minimum, but the more deposit you can save, the more options you’ll have available, including the most competitive rates.

• Keep your finances steady: Now’s not the time to switch jobs or make big purchases.

• Know your budget: Use our mortgage calculators to see what you can realistically afford.

What Do Mortgage Lenders Look For?

Lenders want to know that you can afford your mortgage now, and if things could get more expensive later. They’ll look at:

• Your income: How much you earn and how consistent it is. Whether you’re employed or self-employed. Either way, they want to feel confident your earnings can comfortably cover your monthly repayments.

• Your spending: Outgoings like rent, childcare, loans, and even subscriptions.

• Your credit history: Missed payments, defaults, and your overall use of credit.

• Job security: How long you’ve been in your role and what kind of contract you have.

• Deposit size: A bigger deposit means less risk for the lender.

The stronger your application, the more lenders will be willing to offer you their most competitive mortgage deals.  

What Documents Do You Need?

Paperwork isn’t the most fun part of buying a home, but it’s super important. Here’s what most lenders ask for:

• Photo ID: Passport or driving licence

• Proof of address: Utility bill or council tax letter

• Proof of income:

  • Employed: Last 3 payslips and your most recent P60

  • Self-employed: Last 2–3 years of SA302s and tax overviews / certified business accounts

• Bank statements: Usually from the last 3–6 months

• Proof of deposit: Savings account or a gift letter from a family member

• Details of debts: Loans, credit cards, car finance, etc.

Keep everything clear, up to date, and ready to go.

How Long Does a Mortgage Offer Last?

Mortgage offers typically last for 3 to 6 months. That gives you time to sort the legal side and get the keys to your new place. 

If you’re buying a new-build property or facing unforeseen delays, be sure to inform your lender. Some lenders will extend your offer, but you may need to resubmit some documents.

What Mortgage Fees Will Apply?

When getting a mortgage, there are a few costs to budget for—some upfront, some later.

Here’s what to expect:

• Arrangement fee: Paid to the lender to set up the mortgage. Can be £0–£1,000+.

• Booking fee: A small fee (around £100–£300) to secure a particular deal.

• Valuation fee: To check the property’s worth. Some lenders include this for free.

• Broker fee: If you use a broker, they usually charge either a fixed fee or a percentage of the mortgage amount. To find out how Picnic’s fee structure works, click here. 

• Legal fees: Paid to your solicitor or conveyancer to handle the paperwork.

• Stamp Duty: A one-off government tax based on the property’s price (first-time buyers qualify for lower rate thresholds) and, if liable, must be paid within 14 days of completion.

Our mortgage team can provide you with a full breakdown of fees that will apply specific to your mortgage journey early in the process so you’re not caught off guard.