What Is a Mortgage Offer?

A mortgage offer is the formal confirmation from your lender that they will provide your mortgage. It's issued after your application is fully assessed, the property is valued, and all checks are complete. The offer document details: loan amount, interest rate, monthly payment, term length, any conditions, early repayment charges, and the offer validity period (typically 3-6 months). Once you have your mortgage offer, your solicitor continues legal work towards exchange of contracts and completion.

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What is a mortgage offer?

A mortgage offer is the formal document from your lender confirming they will lend you the money for your property purchase. It details the loan amount, interest rate, term, monthly payments, and any conditions. It's the final approval before completion.

How long does a mortgage offer last?

Most mortgage offers are valid for 3-6 months from the date of issue. Some lenders offer up to 9 months. If your purchase takes longer, you may need to extend the offer or reapply. Extensions are usually possible but not guaranteed.

What happens after I get a mortgage offer?

After receiving your offer: your solicitor reviews it and raises any queries, you review the terms and check for errors, legal work continues (searches, contract review), you exchange contracts (legally committed), then complete (money transfers, keys received).

Can a mortgage offer be withdrawn?

Yes, lenders can withdraw offers before completion. This might happen if: your circumstances change significantly (job loss, new debt), the property has issues discovered late, you miss payments on existing debts, or fraud is suspected. It's rare but possible.

What should I check on my mortgage offer?

Check: personal details are correct, property address is right, loan amount matches expectations, interest rate is as agreed, monthly payment amount, any special conditions, early repayment charges, and the offer expiry date. Report any errors immediately.

What are mortgage offer conditions?

Conditions might include: proof of deposit source, buildings insurance in place, repairs to property before completion, or satisfactory answers to solicitor enquiries. Standard conditions are normal; unusual conditions should be discussed with your broker.

Quick Answer

What Happens After Mortgage Approval?

Last reviewed: December 2025

Reviewed by Jay Sabine – CeMAP Qualified – 29 years experience

After your mortgage offer is issued, your solicitor completes legal work, you exchange contracts (becoming legally committed), then complete (receiving keys and ownership).

Your mortgage offer marks a major milestone - but there's still work before completion. After receiving the offer: your solicitor reviews it for any issues, you check all details are correct, legal work continues (local searches, reviewing contracts, raising enquiries), you arrange buildings insurance, and prepare for exchange. At exchange of contracts, you become legally committed and pay your deposit. Completion typically follows 1-4 weeks later - the mortgage funds transfer, you pay the remaining balance, and receive the keys. Your offer is valid for 3-6 months, so aim to complete within this window. If delays occur, you may need to request an extension.

Your home may be repossessed if you do not keep up repayments on your mortgage. Read your mortgage offer carefully and raise any concerns before exchange.

Key Points

1Formal confirmation lender will provide mortgage
2Valid for 3-6 months typically
3Solicitor reviews offer and continues legal work
4Exchange of contracts makes you legally committed
5Completion is when money transfers and you get keys
6Check all details carefully for errors

Eligibility Criteria

Mortgage offer issued after full application approval
Property valuation satisfactory
All lender checks passed
Any conditions must be met before completion
Buildings insurance required before completion

Typical Timeframe

From mortgage offer to completion typically takes 4-8 weeks, depending on the chain and legal complexities. Exchange of contracts usually happens 1-4 weeks before completion. Aim to complete before your offer expires (3-6 months from issue).

Next Steps

1Read your mortgage offer carefully
2Check all details are correct
3Notify broker/solicitor of any errors
4Arrange buildings insurance
5Prepare for exchange and completion

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What Happens After Mortgage Approval?

Key Points

Eligibility Criteria

Typical Timeframe

Next Steps

Related Questions

From Offer to Completion Timeline

Mortgage Offer Issued

Solicitor Reviews

Searches & Enquiries

Buildings Insurance

Exchange of Contracts

Prepare for Completion

Completion Day

What to Check on Your Offer

Personal Details

Property Address

Loan Amount & Rate

Term & Payments

Special Conditions

Offer Expiry Date

Common Offer Conditions

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