Banks and building societies providing fast mortgage offers
Trinity Financial’s mortgage brokers are securing fast mortgage offers through many banks and building societies.
One application for a property purchase was submitted last Thursday afternoon, and it was offered at lunchtime the following day. This allowed enough time for a property valuer to inspect the property and report his findings to the lender.
Another of our brokers applied to Nationwide for Intermediaries and received a mortgage offer the following day. Our client was switching lenders to raise his mortgage to £550,000 to fund home improvements.
One large bank approved a £2.1 million purchase in two hours, subject to a satisfactory property valuation, and we had a same-day mortgage offer for a client switching his £530,000 mortgage.
Aaron Strutt, product director at Trinity Financial, says: “It tends to be the more prominent lenders with the capacity to handle lots of applications providing speedy mortgage offers. Our clients also typically have equity in their property and a good credit history.
“HSBC recently provided us with a mortgage offer in four days, and The Mortgage Works issued a limited company buy-to-let mortgage in two days.”
It usually takes the lenders around two to three weeks to produce mortgage offers.
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