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How Long Will My Transaction Take?

It is all but impossible to give an accurate indication as to how long a transaction will take to conclude. There are many factors that impact upon this.

If you are a first time buyer, purchasing a new build property with a mortgage agreed in principle, it could be as quick as four to six weeks. However, if you are buying a leasehold property that requires an extension of the lease this can take significantly longer, sometimes between six weeks and two months (in such a situation additional charges would apply).

The number of parties in a chain can significantly affect how long things take as there is more scope for complications along the way.  The chain will progress at the pace of the slowest participant.

Stages of the Process

 

Re-Mortgage

A re-mortgage will take six to eight weeks on average.