What happens next

Day 1·You and the agent

Your offer is accepted

The seller says yes. Nothing is legally binding yet, for either side, until you exchange contracts.

What you do

• Ask the agent to take the home off the market.
• Tell your solicitor and your lender or broker. Both can start straight away.
• Expect a few forms from the agent to confirm who you are and where your money comes from.

Scotland: In Scotland, your solicitor makes the offer for you, and once the seller's solicitor accepts it in writing you're close to being bound.

Week 1 to 2·You, with the lender or broker

You apply for the mortgage

Your agreement in principle becomes a full application. The lender checks your income, spending and credit, and values the home.

What you do

• Send payslips, bank statements and ID when asked, and answer quickly.
• Don't take out new credit or change jobs until you've got the keys.

Cost: Some lenders charge an arrangement fee, often added to the loan. A valuation is often free.

Week 2 to 4·A surveyor you choose

A survey checks the home over

The lender's valuation is for them, not you. A survey looks for damp, roof trouble and the like before you commit.

What you do

• A Level 2 survey suits most flats and newer houses. Older or unusual homes may need Level 3.
• If it finds problems, you can ask the seller to fix them or to lower the price.

Cost: Around £650 for a Level 2 survey on a £200,000 home.

Scotland: In Scotland the seller provides a Home Report with a survey already in it.

Week 2 to 6·Your solicitor

Your solicitor does the searches

They ask the council, the water company and others about the home: planning, drains, flooding, anything that could affect it. Councils can be slow.

What you do

• Nothing. This is the quiet bit where it can feel like nothing is happening.

Cost: About £350, usually paid up front to your solicitor.

Week 4 to 10·Both solicitors

Questions go back and forth

Your solicitor raises enquiries about anything the searches or paperwork turned up. The seller's side answers. For a leasehold flat there are more questions, about the lease, the service charge and the building.

What you do

• Read the report your solicitor sends and ask about anything you don't follow.
• Chase politely if it goes quiet for more than a week or two. Most delays are here.

Week 3 to 6·The lender

The mortgage offer arrives

The formal offer sets out the loan, the rate and the conditions. It usually lasts three to six months.

What you do

• Check the figures match what you expected, and send a copy to your solicitor.

Week 8 to 12·Both solicitors

You exchange contracts

The point of no return. Both sides sign identical contracts and the solicitors swap them. Pulling out after this costs you your deposit.

What you do

• Pay your deposit to your solicitor a few days before, so it's ready.
• Agree the completion date, often one to two weeks later.
• Arrange buildings insurance to start from exchange, not completion.

Scotland: In Scotland this is called concluding missives, and it often happens earlier in the process.

Week 9 to 14·Your solicitor and the lender

Completion day

The lender sends the money to your solicitor, who sends it to the seller's solicitor. Once it lands, the home is yours and the agent hands over the keys, usually around lunchtime.

What you do

• Pick up the keys from the agent.
• Take meter readings and photos of them on day one.
• Set up council tax, energy, water and broadband.

Cost: Your solicitor pays the property tax and their own fee out of your money. Legal fees are typically £1,600 for a freehold home.

Scotland: In Scotland the equivalent is the date of entry.