Banks and building societies producing fast mortgage offers
Banks and building societies are not as busy as they would like, especially with property purchase applications. This means their mortgage processing teams are on hand to produce faster mortgage offers.
Most lenders publish their service standards on their website showing how long they take on average to produce mortgage offers.
Aaron Strutt, product director at Trinity Financial, says: "We aim to send our client's mortgage applications to the lenders once we have all of the documentation they require. It slows the process by sending information separately as the lenders typically take a few days to open their post and re-assess cases."
| Mortgage lender | Deposit required | Average time to produce a mortgage offer via brokers |
| Barclays for Intermediaries |
The bank offers 10% deposit mortgages. The maximum loan size on many rates is £2 million. |
Ten working days on average. Buy-to-let mortgages 21 working days on average. |
| Bank of Ireland |
The bank offers 5% deposit mortgages. Larger mortgage loans are available. |
Twenty working days via Bank of Ireland. The Bespoke team may be quicker. |
| Halifax for Intermediaries |
The bank offers 5% deposit mortgages. Larger loans are available. |
Likely to be up to 10 days. Mortgage offers for clients with straightforward situations can be produced in a day. |
| HSBC for Intermediaries |
Offering mortgages to borrowers, providing they have 5% deposits. The maximum loan size is £10 million. |
Ten days on average for employed and self-employed borrowers. |
| Metro Bank for Intermediaries |
10% for residential and not offering buy-to-let at the moment. |
Ten days is standard but can be quicker. |
| NatWest for Intermediaries | Offering property purchase rates providing you have a 5% deposit. | Ten days is standard but can be quicker. |
| Nationwide for Intermediaries | 5% deposit for property purchases and 10% deposit for remortgages. | Eight days on average if the initial decision in principle, rising to 13 days if the lender has additional questions. |
| Santander for Intermediaries | Purchase applications are available to borrowers with a 10% or 15% deposit if you are remortgaging. The maximum loan is £3,000,000. | Six days for residential and buy-to-let mortgages. |
| Skipton for Intermediaries |
Residential 100% mortgages are available to renters and first-time buyers. A 5% deposit is required for standard purchases and a 20% deposit is required for buy-to-let. |
8.1 working days when the valuer visits the property and 6.6 days when the online valuation tool is used. |
| Virgin Money for Intermediaries |
5% deposit for residential purchase cases and 20% deposit for buy-to-let. The maximum mortgage loan size is typically £2,000,000. |
Ten days on average. |
Source: Mortgage lender websites
Call Trinity Financial on 020 7016 0790 to secure a mortgage or book a consultation
The information contained within was correct at the time of publication but is subject to change.
Your mortgage is secured on your property. Your property may be repossessed if you do not keep up repayments on your mortgage
Get started today
Speak to one of our mortgage experts. Book an appointment to come and see us or request one of our experts to call you.
