Although the bridging loan is amongst the fastest forms of finance, there are times the very deal itself hangs or falls on speed of execution. Perhaps you are bidding on a time-sensitive property deal, needing to raise funds immediately before the opportunity slips away.
In these situations, people often ask us what’s the fastest you can arrange a loan, and which lenders should we approach to get our bridging finance in the shortest possible time?
Need a Quick Bridging Loan? We Can Help
Unfortunately there’s no simple, one-size-fits-all answer to this because every loan is different. With access to the entire market, however, and a great deal of experience in matching loans with an appropriate provider, we’re confident we can rapidly place your loan with the lender most likely to get it over the finish line in the shortest possible time.
We know which lenders move fastest, what information they need to do so, and our long standing relationships with them mean they will do everything they can to help Business Expert’s visitors achieve their goals.
NB, we do not charge you anything for our bridging loan concierge service. The lenders themselves pay us a commission on successful deals, your cost would remain exactly the same.
How Fast can I get a Bridging Loan?
When all the paperwork is ready, and in the right scenario, a bridging loan can be put together in as little as 3 days.
Unregulated finance (commercial bridging) is generally faster since the lenders have less regulatory hoops to jump through. Faster loans also generally come with a higher premium since, as a rushed loan gives lenders less time for due diligence, their risk level and rates increase accordingly.
A more typical timeframe for regulated bridging might be 4 to 6 weeks. That’s not for loan approval, mind you, but for actual loan completion.
Typical Bridging Loan Time Frame
- Decision in Principle 1-2 days
- Formal Offer 1-2 weeks
- Completion 2-4 weeks
Quick Bridging Loans for Auction Purchase
Another common scenario requiring quick bridging finance is when properties are purchased at auction. Following a successful purchase, however, auction houses generally require payment in full within 30 days.
In this scenario, bridging finance is the most commonly used source of funds, allowing developers to secure fast funding for both the property purchase and the development works themselves.