The main benefits of bridging loans are their flexibility and how quick they are to arrange, but just how fast is the bridging finance process and how do you go about kick-starting it in an emergency?\n\nThese are questions customers ask us all the time, and you\u2019ll find the answers below.\n\nThe following topics are included in this article\u2026\n<ul>\n \t<li><a href="#how-long-does-it-take">How long does it take to arrange a bridging loan?<\/a><\/li>\n \t<li><a href="#how-to-get-bridge-quickly">How to get a bridging loan as quickly as possible<\/a><\/li>\n \t<li><a href="#what-does-bridging-involve">What does the bridging loan application process involve?<\/a><\/li>\n \t<li><a href="#eligibility-swift-bridging">Eligibility criteria for swift bridging finance<\/a><\/li>\n \t<li><a href="#regulated-vs-unregulated">Regulated vs unregulated bridging loans<\/a><\/li>\n \t<li><a href="#maximum-ltv-bridging">Maximum LTV on a fast bridging loan<\/a><\/li>\n \t<li><a href="#quick-bridge-btl">Quick bridging loans for buy to let properties<\/a><\/li>\n \t<li><a href="#quick-bridge-ltd-company">Quick bridging finance for limited companies<\/a><\/li>\n \t<li><a href="#speak-to-bridge-expert">Speak to a quick bridging loans expert<\/a><\/li>\n<\/ul>\n[feefo-banner]\n<h2 id="how-long-does-it-take">How long does it take to get a bridging loan?<\/h2>\nWe often hear from customers urgently needing finance for an opportunity ASAP asking us \u201chow long does a bridging loan take?\u201d and the answer in most cases is \u2018not very\u2019 \u2013 at least compared to more traditional forms of borrowing such as mortgages and secured loans. In fact, one of the main benefits of using bridging finance for property purposes is how speedy it can be to arrange.\n\nWith the most straightforward bridge loan applications, it is possible to have a conditional offer on the table within a few days of the initial enquiry. More complex cases can take weeks, rather than days, but this will still likely be swifter than the alternatives.\n<h2 id="how-to-get-bridge-quickly">How to get a bridging loan as quickly as possible<\/h2>\nThe best bridging finance lenders pride themselves on being able to provide finance quickly, but you might find that some are speedier than others, and that certain bridge loan providers may even turn you away on eligibility grounds.\n\nIf timing is of the essence, being told \u2018no\u2019 can delay your efforts to secure funding even further, and this is just one of the reasons why approaching multiple lenders is never a good idea (plus it could also negatively impact your credit file).\n\nSo, what is the best way to land a bridging loan quickly? Well, you should start by making an enquiry. We work with expert <a href="https:\/\/www.onlinemortgageadvisor.co.uk\/bridging-finance\/bridging-loan-broker\/">bridging loan brokers<\/a> who will search the market on your behalf for the bridging lender in the best position to offer a great deal and fast bridging finance to a borrower with your needs and circumstances.\n\nNot only will using a specialist bridging broker save you legwork and potential black marks on your credit report, it could also save you precious time.\n<h3>How long does it take to get a bridging loan approved?<\/h3>\nFor those needing the red carpet treatment and a bridging loan sorted ASAP, the experts we work with have sorted funding within 24 hours of the application.\n\nOn other occasions it may take 2 days (48 hours).\n\nIt can take longer, however, as the speed at which it takes can vary from application to application. Different factors impact the speed at which a lender can process the application and it is down to your individual circumstances and the details surrounding your loan.\n\nGet in touch with us to be passed to an expert who can give you an idea of the fastest possible timescales.\n<h3 id="what-does-bridging-involve">What does the bridging loan application process involve?<\/h3>\nBridging loans are normally rapid to arrange compared to mortgages because the lending decision largely depends on the exit strategy. If your plan for settling the loan at the end of the term is strong and clearly evidenced, the majority of the underwriting is taken care of.\n\nThe bridging loan process involves the following steps\u2026\n<ol>\n \t<li>The borrower makes an enquiry and the broker carries out a \u2018fact find\u2019 to establish their personal circumstances, goals and financial situation.<\/li>\n \t<li>The lender requests evidence of the exit strategy and assesses how realistic it is. This is usually either a remortgage (lender may want to see an <a href="https:\/\/www.onlinemortgageadvisor.co.uk\/mortgage-application\/mortgage-decisions-in-principle\/">agreement in principle<\/a>) or the sale of a property (a valuation will need to be carried out).<\/li>\n \t<li>The broker will source bridging lenders to receive an agreement in principle (AIP) for the bridging loan - however, some lenders do not offer AIPs for bridging and go straight to full application.<\/li>\n \t<li>After the underwriting the lender will issue a conditional offer, and this is different to a standard mortgage offer in the sense that it is not binding. The offer is conditional based on a valuation taking place and solicitors\u2019 requirements being met.<\/li>\n \t<li>From this point on the process is much the same as a standard mortgage application - it\u2019s over to the solicitors to handle the legal aspects, and the funds are released once they\u2019re completed their legal due diligence.<\/li>\n<\/ol>\n<h2 id="eligibility-swift-bridging">What determines how fast bridging loans are to arrange?<\/h2>\nThere are a number of factors which determine how straightforward your bridging loan application is to process, and most of them related to eligibility, such as\u2026\n<ul>\n \t<li>The strength of the exit strategy<\/li>\n \t<li>Whether it\u2019s a regulated or unregulated bridging loan<\/li>\n \t<li>Your credit rating<\/li>\n \t<li>The property type<\/li>\n \t<li>Whether you have experience in property<\/li>\n \t<li>Your deposit<\/li>\n \t<li>If a valuation has been completed already<\/li>\n<\/ul>\n<h3>How exit strategy affects the bridge loan application process<\/h3>\nBridging loan lending decisions can rest on the strength of the exit strategy almost entirely, and the stronger yours is, the better chance you stand of securing a deal quickly and with the most favourable interest rates.\n\nIf your exit strategy is the sale of the property in question, the lender will want to see that the property is sellable and capable of raising the required amount. If it\u2019s a complex development project that needs additional scrutiny to determine this, there\u2019s a possibility of the loan taking longer to process.\n\nThe same applies if the exit strategy is a remortgage. Some lenders will request to see an agreement in principle in advance, and the more straightforward and achievable your plans are, the easier if will be to obtain one.\n<h3 id="regulated-vs-unregulated">Regulated vs unregulated bridging loans<\/h3>\nThe length of time your bridge loan takes to process will also depend on whether it\u2019s regulated or unregulated.\n\n<a href="https:\/\/www.onlinemortgageadvisor.co.uk\/bridging-finance\/fca-regulated-bridging-loans\/">Regulated bridging finance<\/a> is aimed at anyone who needs a loan for a residential property they either live in or are planning to live in.\n\nThey\u2019re regulated by the Financial Conduct Authority (FCA), giving the borrower extra protection against mis-selling and bad advice.\n\nThese loans usually take longer to arrange than unregulated, especially if the solicitors are inexperienced in bridging finance - a matter of weeks rather than days, in some cases.\n\nUnregulated bridging loans are nowhere near as dubious as they might sound. This is simply the term used for commercial bridging finance, which needs to be more flexible and tailored to the needs of the individual borrower.\n<h3>Credit rating<\/h3>\nHaving bad credit is not a deal-breaker to some bridging lenders, as long as the exit strategy is strong and will be unaffected by the adverse, but if you have any of the below against your name, things may be less straightforward.\n\nSome bridging lenders might be mindful of <a href="https:\/\/www.onlinemortgageadvisor.co.uk\/bridging-finance\/bad-credit-bridging-finance\/">bad credit borrowers<\/a> if the exit strategy is a remortgage and underwriters may be concerned about the possibility of further adverse building up during the loan term, but that doesn\u2019t mean finding a quick bridging loan deal is impossible under these circumstances, especially if the exit is unlikely to be jeopardised.\n\nMake an enquiry and the and the advisors we work with will help you find the lender most likely to offer fast bridging finance to borrowers in your situation.\n<h3>The property type<\/h3>\nIn theory, it is possible to get a bridging loan for virtually any property type - even ones which most mortgage lenders might consider \u2018unmortgageable\u2019.\n\nThis is all assessed on a case-by-case basis, but generally speaking, the deal will be less complicated if you have a good security property that\u2019s ready to sell and is likely to be offloaded for the required amount. Obviously, having a deal on the table can be a big help here. Variables such as <a href="https:\/\/www.onlinemortgageadvisor.co.uk\/property-types\/non-standard-construction\/">non-standard construction<\/a>, leaseholds and undesirable locations may put off buyers and jeopardise the exit.\n\nLoans for <a href="https:\/\/www.onlinemortgageadvisor.co.uk\/commercial-mortgages\/">commercial properties<\/a> can also take longer to process, and in some cases, the lender may ask to see a business plan, adding an additional step to the deal.\n\nYou should also keep in mind that specialist providers might be required for properties such as a hotel or a flat with a ground-floor shop, as some lenders consider these too high risk.\n<h3>Experience in property<\/h3>\nIt\u2019s entirely possible to get a bridging loan with no property experience whatsoever, but having some to your name is usually beneficial. If you can prove you have a strong track record in the industry and can show evidence of past projects, some lenders are more likely to be convinced that you\u2019re a low-risk borrower, and therefore things may go smoothly from the off.\n\nFor complex development projects, some lenders may insist in property experience.\n<h2 id="maximum-ltv-bridging">What is the maximum LTV on a fast bridging loan?<\/h2>\nThe maximum LTV on most bridging loans is between 70% and 75%, meaning you will need a deposit of at least 30-35% to secure a property with one, as the interest payments are factored in. For higher risk commercial properties, such as petrol stations or restaurants, the LTV can fall to between 50% and 60%.\n\nIt is possible to get higher LTV bridging loans, up to 100% even, but this usually means putting up additional properties\/assets as security. Most lenders are okay with multiple securities, but each may require a separate valuation at your time and expense.\n<h2 id="quick-bridge-btl">Can I get a quick bridging loan for a buy to let property?<\/h2>\nIt is possible to get a bridge loan for an investment property and a <a href="https:\/\/www.onlinemortgageadvisor.co.uk\/buy-to-let-mortgages\/">buy to let mortgage<\/a> for said property from the same lender. This is sometimes referred to as a <a href="https:\/\/www.onlinemortgageadvisor.co.uk\/buy-to-let-mortgages\/bridge-to-let-mortgages-in-the-uk\/">bridge to let application<\/a>, and lenders who offer these may give you an agreement in principle for the mortgage when the loan funds are due to be released.\n\nThe buy to let mortgage aspect of the arrangement, including the valuation, will be subject to the same criteria as one of the lender\u2019s buy to let mortgage products.\n<h2 id="quick-bridge-ltd-company">Can I get a quick bridge loan if I trade as a Limited company?<\/h2>\nYes, quick and easy bridging loans may be available you if you\u2019re <a href="https:\/\/www.onlinemortgageadvisor.co.uk\/bridging-finance\/commercial-bridging-loans\/">set up as a Limited Company<\/a>, as long as you have a strong exit strategy.\n\nThe rates are usually the same for Limited Company borrowers and some lenders will treat their applications similarly to buy to let mortgage deals, and may request a personal guarantee from the company directors.\n\nYour choice of lenders will be wider if your Ltd Company is a special purpose vehicle (SPV) but it may still be possible to secure a favourable bridging finance deal if this isn\u2019t the case.\n<h2 id="speak-to-bridge-expert">Speak to an expert bridging finance broker<\/h2>\nFor further information about getting <a href="https:\/\/www.onlinemortgageadvisor.co.uk\/mortgage-application\/quick-mortgage-approvals\/">quick mortgages<\/a>, bridging loans or both, call Online Mortgage Advisor today on 0808 189 2301 or <a href="https:\/\/enquiries.onlinemortgageadvisor.co.uk\/match-me-with-a-bridging-finance-specialist\/">make an enquiry online<\/a>.\n\nThen sit back and let us do all the hard work in finding the broker with the right expertise for your circumstances.\u00a0 We don\u2019t charge a fee and there\u2019s no obligation or marks on your credit rating.