@Flamin Squirrel
I started my application in April and would have been on course in December if I could have left my current job earlier. I did have to wait 6 weeks for the final interview stage though. It can be as little as 4 months if all goes well but you are at the mercy of the college as it's them that give the dates.
I know someone who has been told they may be on a course date late Feb but don't quote me on it.
I personally wouldn't sell my house before or during the application process as it's really difficult process with no guarantees.
Could you not rent it out if you were successful?