News

31% of cases complete in less than 2 weeks

When it comes to second charge mortgages, many brokers assume the process takes as long as a traditional residential purchase mortgage. But the truth is, that’s not the case.

In fact, 31% of our second charge mortgage cases are completed in less than two weeks, with some transactions even concluding in just a few days. So, what’s driving this quick turnaround?

Recent advancements in lender criteria and a surge in competition to streamline processes have shortened cycle times. Here’s a closer look at the key improvements that are making it possible to complete second charge mortgages faster:

• Automated valuations: Many of our lending partners now use desktop valuations, which saves both time and money while keeping the process moving quickly.

• Consent to follow: Certain lenders provide conditional offers with consent to follow, allowing for a faster completion.

• E-signatures: The use of e-signatures has become increasingly common, enabling clients to sign documents securely, without the hassle of printing, signing, and mailing forms.

These innovations have significantly simplified the process, making it easier and faster for clients to access funds for debt consolidation, home improvements, or other financial needs.