What this milestone means
The buyer's lender has completed every check (credit, valuation, underwriting) and issued a formal mortgage offer. Funds are now reserved for your buyer, usually valid for 3–6 months. With finance locked, you're clear to sprint toward exchange.
Why this moment matters
- Certainty – the biggest fall-through risk (mortgage decline) has vanished.
- Chain momentum – solicitors can agree a firm exchange date because the buyer's money is guaranteed.
- Negotiating leverage – if another link drags, you can show the chain you're ready and funded, nudging everyone forward.
What's happening in the background
- Mortgage Broker / Lender – emails the binding offer to the buyer and their solicitor.
- Buyer's Solicitor – files the offer, confirms conditions (buildings insurance, signed deed) and triggers the "report on title" for the buyer to sign.
- Open Moove – marks the milestone complete, updating every professional so dates can be finalised.
What you need to do now
Nothing heavy, but:
- Ask your estate agent to confirm the buyer's offer expiry date (rarely, lenders time-limit completion).
- Double-check your own onward funding or rental plans align with a realistic exchange / completion window.
- Keep the property in the same condition until completion day—lenders can re-inspect if the offer nears expiry.
Next 3 things to prepare for
- Exchange contracts – with finance secured, both solicitors should aim to exchange within 1–2 weeks in normal situations.
- Removal quotes – get final prices and provisional dates within your Moove Room; slots book quickly.
- Utilities & post redirection – schedule switch-overs for completion to avoid last-minute admin stress - again you can do this within your Moove Room.
Finance sorted, forward gears engaged. Any questions about offer conditions or timelines? Drop them in the Moove Room - MeredithAI is on call.