How long does a bridging loan take to complete

To date we have arranged a non status bridging loan from start to finish in just 4 days.

Circumstances would be the key driver for a fast completion with a non status bridging loan, by this we mean strength of exit.

Sale: profitability of the deal and demand for sale, checked by the valuer.

Remortgage: underwriting will become more enhanced for this exit type, such as credit status, income, experience, stress testing and asset and liability review.

For a case to have speed of application it must have a clear exit, this is the first part.

The next part which can determine the time taken to arrange a non status bridging loan would be the legals. This is very important and if you are looking to complete on a bridging loan quickly, you will need your broker to take you to a lender that will not require searches.

If a lender does not require legal searches and they are happy to accept an indemnity policy, then it can really speed up the time it takes to arrange a bridging loan.

Legal searches might take 6 weeks with some councils, so if you are buying at auction with just 28 days to complete, it might not be suitable to use a lender that insists on searches.