When you need to buy a property, complete an auction purchase or secure funding before an opportunity disappears, waiting several weeks for finance may not be an option.
This is one of the main reasons people turn to bridging finance. Unlike a traditional mortgage, a bridging loan is designed for situations where funding is needed quickly and there is a clear plan for repaying it.
So, how long does a bridging loan take?
In straightforward cases, bridging finance can be arranged very quickly. Goldhill Finance can typically make lending decisions within a few hours, with funds often released within 48 hours once the required checks, legal work and documentation are complete. More complicated cases can take longer.
The important point is that the speed of a bridging loan is not just about how quickly a lender can make a decision. The property, valuation, legal work and exit strategy all need to be dealt with before the money can be released.
How quickly can a bridging loan be arranged?
A straightforward bridging loan can potentially be completed within a few days.
At Goldhill Finance, the process is designed to move quickly, with lending decisions typically made within two hours and funds often delivered within 48 hours.
That does not mean every bridging loan will complete within 48 hours.
The actual timeframe depends on factors such as:
- The type and value of the property
- How much you need to borrow
- The loan-to-value ratio
- Whether a valuation is required
- The legal position of the property
- The strength of your exit strategy
- Whether there are existing charges on the property
- How quickly the required documents are provided
- Whether there are complications with the title or ownership
For a borrower with a straightforward property, a clear exit and all the necessary information ready, the process can be considerably quicker than traditional property finance.
Get a decision in just hoursReady to discuss your loan?Get in touch and we will analyse the best solution to your needs.How it worksDecision in hoursNo obligationAll cases consideredLet's talkHow does the bridging loan process work?
Understanding what happens behind the scenes helps explain why some bridging loans can complete in days while others take longer.
1. Initial enquiry
The process starts with a discussion about the property, how much you need to borrow and what you intend to do with the money.
The lender will also need to understand your exit strategy. This is how you intend to repay the bridging loan, whether that is through selling the property, refinancing onto a mortgage or using another source of funds.
Because bridging finance is short-term, having a credible exit is one of the most important parts of the application.
2. The lender assesses the property
Bridging finance is secured against property, so the lender needs to establish whether the security provides sufficient value for the proposed loan.
Depending on the circumstances, a traditional valuation may not always be necessary. Goldhill Finance uses accelerated desktop valuations where suitable, which can help avoid one of the delays associated with conventional property finance.
If a physical valuation or additional survey is required, this can add time to the process.
3. A lending decision is made
Once the lender has the information needed to assess the case, a decision can be made.
Goldhill Finance states that lending decisions are typically made within two hours, although the exact timing will depend on the circumstances of the application.
At this stage, the lender will consider the property, proposed loan, available security and exit strategy rather than simply treating the application like a conventional mortgage application.
4. Legal checks are completed
Getting an agreement in principle does not mean the money can immediately be transferred.
The legal side of the transaction still needs to be completed. Solicitors will need to deal with the property, title and security being offered to the lender.
This is an important distinction when considering how long a bridging loan takes. A lender may be able to make a decision very quickly, but completion still depends on the legal work being ready.
5. The loan completes
Once the lender is satisfied with the security, legal work and documentation, the loan can complete and the funds can be released.
For suitable cases, Goldhill Finance can often provide funds within around 48 hours.
For borrowers facing a strict deadline, this can make a significant difference.
What can delay a bridging loan?
Bridging finance is designed to be fast, but there are still things that can hold up completion.
Property problems
Issues with the property’s title, ownership, planning history or existing charges may need to be resolved before the lender can complete.
This is particularly relevant when dealing with unusual, unmortgageable or distressed properties.
Valuation requirements
A desktop valuation can speed up suitable cases, but it will not be appropriate for every property.
If a full valuation is needed, the availability of the valuer and the complexity of the property can affect the timetable.
Incomplete information
Missing documents are one of the simplest ways to slow down a transaction.
If the lender or solicitor needs additional information and has to wait for it, the completion date can move.
Providing the relevant details at the beginning can therefore make a noticeable difference.
Complicated legal work
Existing mortgages, second charges, multiple owners, companies, unusual title arrangements or other legal complications can all require additional work.
This does not necessarily prevent a bridging loan from being arranged, but it can mean that a transaction takes longer than a straightforward case.
An unclear exit strategy
A bridging loan needs a realistic way to be repaid.
If the proposed exit depends on selling a property, refinancing or completing development work, the lender needs to be satisfied that the plan is achievable.
A vague exit can lead to additional questions and delays.
Can you get a bridging loan in 24 hours?
It is possible for a lender to make a decision very quickly, but there is an important difference between getting a decision and completing the loan.
Goldhill Finance can typically make lending decisions within two hours, while funds can often be released within 48 hours once everything is in place.
A 24-hour completion may therefore be possible in some circumstances, but it should not be assumed.
The quickest cases are usually those where the property is straightforward, the security is acceptable, the required information is immediately available and there are no unexpected legal issues.
For a detailed look at the possibility of securing finance quickly, see our guide to 24-hour bridging loans.
Can auction finance be arranged quickly enough for a 28-day deadline?
Yes. Speed is one of the main reasons bridging finance is used for property auctions.
When the hammer falls, the purchase normally becomes legally binding and the buyer will usually have a limited period in which to complete. Many auctions require completion within 28 days.
Trying to arrange a conventional mortgage after winning the property can therefore leave the buyer under considerable pressure.
Auction finance is designed around this type of situation. Goldhill Finance offers auction property finance and can make decisions quickly, with funds often available within around 48 hours for suitable cases.
However, the safest approach is to investigate your funding before bidding rather than waiting until the auction has finished.
This allows you to understand how much you may be able to borrow and avoid committing to a property without knowing how you will complete the purchase.
Does a bridging loan take longer for a property that needs work?
Not necessarily.
One of the advantages of bridging finance is that it can be used against properties that may not be suitable for a conventional mortgage in their current condition.
For example, an investor may purchase a property that requires substantial refurbishment before it can be sold or refinanced.
In these circumstances, the exit strategy becomes particularly important. The lender needs to understand what work is required, what the property is expected to be worth afterwards and how the loan will ultimately be repaid.
Where a project involves substantial construction or conversion work, property development finance may be more appropriate than using a standard bridging facility for the entire project. Development finance is designed to release funds in stages as work progresses.
Secured finance on your propertyLend money against your propertyAs long as you own a home and need funds for investment or business, we can helpHow funds can be usedBusiness investmentCommercial purchasesProperty refurbishmentYes, I own a propertyHow can you make a bridging loan faster?
If speed is important, there are several things you can do before making an application.
Have your exit strategy ready
Be clear about how you intend to repay the loan.
If you are selling the property, explain the proposed sale. If you are refinancing, know which type of finance you expect to move onto. If you are developing the property, have realistic figures for the works and projected value.
Have the property details available
Provide accurate information about the property from the outset, including its current value, purchase price, existing finance and intended use.
Get your solicitor involved early
Legal work can become one of the biggest factors affecting completion times.
Having a solicitor ready to deal with the transaction can help prevent unnecessary waiting once the lender has approved the finance.
Be realistic about the amount you need
The amount borrowed needs to make sense against the available security and the proposed exit.
A clear, sensible funding requirement makes it easier for the lender to assess the case.
Tell the lender if there is a deadline
If you have an auction completion date, property purchase deadline or another urgent requirement, make this clear from the beginning.
A lender cannot prioritise a deadline it does not know about.
How long does a bridging loan last?
The speed of arranging a bridging loan should not be confused with the length of the loan itself.
Bridging finance is designed as short-term funding. Goldhill Finance offers bridging loan terms of up to 36 months, although the appropriate term depends on the circumstances and the proposed exit.
The aim is generally to use the bridging facility until the next stage of the plan is ready.
For example:
Property purchase → Bridging loan → Refurbishment → Sale or refinance
or:
Auction purchase → Bridging loan → Refurbishment → Buy-to-let mortgage
The shorter the period the loan is needed, the less time there is for interest to accumulate, which is why having a realistic exit strategy before taking out the finance is so important.
Is a bridging loan right for you?
A bridging loan can make sense when a conventional mortgage or other form of finance cannot move quickly enough, or when the property itself is not suitable for mainstream lending.
Common uses include:
- Buying a property before an existing property has sold
- Completing an auction purchase
- Buying an unmortgageable property
- Funding refurbishment
- Purchasing commercial property
- Raising short-term business finance against property
- Funding a property development
- Refinancing an existing facility where time is critical
Goldhill Finance provides finance against residential, investment, commercial and development property, with first, second and third charge options available in suitable circumstances.
If you are buying or refinancing a commercial property, you can also look at our commercial property finance options.
What does a fast bridging loan cost?
Speed and flexibility come at a cost, so it is important to look at the total cost of the finance rather than focusing only on how quickly the money can be provided.
Depending on the facility, costs can include:
- Monthly interest
- Arrangement fees
- Valuation costs
- Legal costs
- Exit fees where applicable
Interest can sometimes be rolled up rather than paid each month, depending on the facility and lender’s terms. Goldhill Finance offers different interest payment structures, including monthly payments and rolled-up interest.
The right question is therefore not simply, “How quickly can I get the money?”
It is also, “Will the finance allow me to complete the transaction and reach my exit without the cost undermining the deal?”
Fast bridging financeApproval in just hoursSubmit your details and we will get back to you the same dayBorrow £10k to £500kSame day yes or noNo obligationClear termsEnquire nowHow quickly can Goldhill Finance provide finance?
Goldhill Finance is a direct lender, meaning lending decisions are made using its own funds rather than being passed through a chain of third parties.
The company can typically make decisions within two hours, with funds often available within 48 hours for suitable cases where the necessary checks, documentation and legal work are complete.
There is no single timeframe that applies to every bridging loan. A straightforward case may move very quickly, while a more complicated property, legal structure or exit can take longer.
If you have a specific deadline, the best approach is to speak to Goldhill Finance as early as possible and explain exactly what you need to achieve.
Frequently asked questions
How long does a bridging loan take to complete?
A straightforward bridging loan can potentially complete within a few days. Goldhill Finance can typically make decisions within two hours, with funds often available within 48 hours once the necessary checks and legal work are complete.
Can a bridging loan be completed in 48 hours?
Yes, this can be possible for suitable cases where the property, valuation, legal work and documentation can all be dealt with quickly. It should not be treated as a guaranteed timeframe for every application.
What is the quickest way to get a bridging loan?
Have your property details, borrowing requirement, exit strategy and solicitor ready before making the application. If there is a fixed deadline, tell the lender immediately.
Do bridging loans take longer than mortgages?
Generally, bridging loans can be arranged much faster than conventional mortgages because they are designed for short-term, property-backed lending and are assessed differently. The exact timeframe depends on the lender and the complexity of the transaction.
Can I get bridging finance for an auction property?
Yes. Auction finance is specifically designed to help buyers complete purchases within tight auction deadlines. Goldhill Finance provides auction finance for residential, commercial and other suitable property purchases.
Do I need proof of income for a bridging loan?
Not necessarily. Bridging finance is primarily assessed around the property offered as security and the proposed exit strategy, although the lender may request other information depending on the application.
How long can I have a bridging loan for?
Goldhill Finance offers terms of up to 36 months, although the appropriate term depends on the individual transaction and exit strategy.
Need a bridging loan quickly?
If timing is critical, waiting until the last minute can make an otherwise straightforward transaction much harder.
The sooner the lender understands the property, the amount you need and how you intend to repay the loan, the sooner the application can be assessed.
Goldhill Finance provides direct access to short-term property finance, with decisions typically made within two hours and funds often available within 48 hours for suitable cases.
Contact us to discuss your requirements and find out how quickly your finance could potentially be arranged.
