The average property transaction takes around 12 to 15 weeks.
The pre-exchange period is known to be the part of the process most prone to delays. It’s at this point where you can expect a lot of back and forth between solicitors, agents and mortgage advisors—especially if you’re part of a chain.
Speak to your estate agent about a Property Information Qestionairre Designed to help speed up the process. It will save you time and money and takes away a lot of the problems that so often occur in a property sale—complete it before your house is sale-ready.
Alongside the PIQ, you will also need copies of a handful of paperwork, including:
a copy of the lease (if the property is leasehold)
documentation related to the freehold (if a freehold property)
FENSA certificates for replacement windows
your Energy Performance Certificate (EPC)
relevant building restrictions
building regulation certificate when alterations have taken place
Gas Safety certificate for a new boiler
SPEAK TO YOUR MORTGAGE ADVISER WHEN BUYING A HOUSE
You should speak to a mortgage adviser to confirm your budget and get an agreement in principle from them. You will receive a formal mortgage offer once your offer is accepted, remember this will only be valid for a set time-frame. You will need to start the process again if you don’t manage to complete it before it expires.