Most of the lenders publish their service standards on their website showing how long they are taking on average to produce mortgage offers.
The table below highlights that Skipton for Intermediaries and Santander for Intermediaries are operating quickly, while NatWest is having some severe processing delays.
Aaron Strutt, product director at Trinity Financial, says: "Some of the lenders with swift turnaround times are also offering incredibly cheap rates. If you are in a rush to get a mortgage, there are some lenders that you probably should avoid for a while.
"We aim to send our clients 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||Applicants will need a 15% deposit. The maximum loan size is £10 million.||10 days on average.|
|Bank of Ireland||10% deposit required.||10 working days via Bank of Ireland. The Bespoke team may quicker.|
|Halifax for Intermediaries||15% deposit required.||Likely to be up to 10 days.|
|HSBC for Intermediaries||Offering mortgages to borrowers providing they have 10% deposits.||Official data not available. Trinity recently had a case offered in 10 days.|
|Metro Bank for Intermediaries||20% for residential and 25% for buy-to-let. Maximum loan £10 million.||10 days as standard but can be quicker.|
|NatWest for Intermediaries||Offering purchase and remortgage rates providing you have a 20% deposit.||12 days for a property purchase and 13 days for a remortgage.|
|Nationwide for Intermediaries||25% deposit for purchases and remortgages.||20 days on average.|
|Santander for Intermediaries||Purchase and remortgage applications available to borrowers with a 15% deposit and the maximum loan is £3,000,000.||9.8 days for residential and 3.8 days for buy-to-let.|
|Skipton for Intermediaries||
Residential and buy-to-let mortgages to those with a 25% deposit.
|8 working days.|
|Virgin Money for Intermediaries||
15% deposit for residential cases and 20% deposit for buy-to-let. The maximum mortgage loan size is £2,000,000.
Source: Trinity Financial
Call Trinity Financial on 020 7016 0790 to secure a residential or buy-to-let mortgage or send an enquiry