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How Fast Can A Bridging Loan Be Arranged?

How Fast Can A Bridging Loan Be Arranged?

As bridging loan rates hover at record lows, the number of applications for them are skyrocketing. Fast bridging loans are exponentially quicker and easier to arrange than most secured loans options, which makes them desirable for emergency situations and only adds to the list of people applying for them. In terms of exactly how fast funding can be arranged, a typical bridging loan process would work a little like this.

Consultation and Market Comparison

After contacting UK Property Finance to discuss what you require, they will get to work comparing the market in its entirety to find you an unbeatable deal.  Because they are working with an extensive network of specialist lenders, they are able to access exclusive deals and discounts you will not find on the High Street. Only once you are satisfied will your application be taken to the next stage.

The Initial Decision

Your requirements will then be paired with a bridging loan lender to suit your objectives and your budget, at which point an initial decision will be made regarding your eligibility for a bridging loan. This initial offer will always be subject to various conditions regarding your financial status and does not represent a formal agreement.

When working with UK Property Finance, this initial assessment will have no impact whatsoever on your credit file – even if your application is unsuccessful.

Provision of Documents and Evidence

The team of bridging finance experts at UK Property Finance will carefully check and assess all aspects of your application and all supporting evidence or documentation that you submit. This will ensure that everything is in order prior to the final submission of your application to the lender chosen for your bridging loan.

If any additional documentation or information is required, they will make sure you are informed as quickly as possible to ensure the necessary arrangements are made.

Valuation of Security

Most lenders are unwilling to accept applicants’ estimations of the value of their security and assets, so a formal valuation of the security must be carried out. This can be handled in advance by employing the services of an independent valuer that the lender considers viable, or upon request as part of the application process.

Obtaining a formal valuation of your security’s current value at an early stage is advisable to help streamline and simplify your application process. Contact a member of the team at UK Property Finance anytime for more information.

Finalization and Payment

Once the loan is in order and the contract has been signed by most parties, the agreement can be finalized, and the funds transferred. All required assessment and verifications will have already taken place, making this part of the process relatively smooth and straightforward. Your bridging loan will be transferred directly into the account of your choosing and can be accessed immediately.

Approximate Timeframe

If no unexpected complications or delays are encountered along the way, all of the above can be completed within five working days or less. An initial decision is usually provided within 24 hours, after which you will have the opportunity to decide whether or not to proceed with the loan application process.

If you already have the required documentation and evidence prepared, it is possible to access a bridging loan as quickly as 72 hours after submitting your application.

Ask the Experts

If you are stuck at any point or need assistance in your loan application process, it is always wise to consult an expert. At UK Property Finance, their experts know how to reduce all possible turnaround times of bridging finance applications, which makes the process, for you, smoother, faster, and painless. For more information or to discuss your requirements in more detail, book your obligation-free consultation today.


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by Dirk DeBie // Contributor to Businessing Magazine.

Opinions expressed by contributors are their own.