The demand for bridging loans has increased significantly over the years, as they provide a dynamic solution of speed and flexibility to solve a short-term requirement. New forecasts from West One Loans predict the market will reach £12.2billion in 2025. This will mark a significant turning point for short-term lending.

Bridging finance can be used to support cash flow for almost any purpose, from auction purchases with tight deadlines to time-sensitive investment opportunities, therefore speed is crucial.

Whilst lenders may be quick to issue terms, there are several elements throughout the process that can cause significant delays. Whether this be awaiting client documents, valuations or responses from solicitors. However, as a broker, there are steps you can take to help your clients not only get an offer from a lender, but also a fast completion.

At Crystal Specialist Finance we complete on bridging deals daily. The quickest deal we helped fund from application to completion was a remarkable 8 hours! See our case studies here. Continue reading to discover our top tips on how to complete bridging deals quick, so you can win more clients, and earn more commission.

Accurate applications are key

The detail you include in the initial application is one of the main factors that will influence how quickly your client’s case will progress. If the information you have provided is vague, and lacking any relevant documentation, it will delay an offer being issued. Often underwriters have to seek further clarification which can cause frustration on both sides.

Automated Valuation Models (AVMs)

Automated Valuation Models (AVMs) are property valuations carried out online and are typically much quicker than a traditional valuation. AVMs provide speed and convenience as your client will not need to schedule an appointment. They are a much cheaper option and are a useful tool when time is of the essence.

Choosing the right lawyer

Choosing the right lawyer for a bridging loan is crucial because of the speed, and legal paperwork associated with this type of loan. Your clients should consider using a lawyer that has experience working to tight deadlines and has completed on bridging loans previously, to get the outcome they desire.

Working with a specialist

People often associate speed with efficient processes, but it also comes from human expertise.

At Crystal Specialist Finance we can help you write specialist business to enhance your client portfolio. Our panel of 30+ bridging lenders means we have access to exclusive products and semi-exclusive rates and can find a tailored solution for the complex client cases you are not used to dealing with. We will also beat any non-regulated bridging quote like-for-like!

As a broker, you must remain proactive at every stage of the process. There is no secret to speeding up bridging, just a few simple steps you can introduce to take the stress away.

Grow your bridging business with Crystal and submit a case to us today! Call our New Business Advisers on 01827 337710 or enquire through our CrystalHUB.

Click here to see our bridging finance guide for more useful tips.