In the dynamic UK property market, timing is everything. Securing a mortgage promptly can be the key to landing your dream home or even missing out. The mortgage approval process, known for its complexities and delays, can often feel like an endless hurdle race. However, speed in this context isn’t just about crossing the finish line; it’s about making the journey smooth and swift.
2024 saw a 29% improvement in the time it takes from mortgage application submission to mortgage offer when compared to the previous year.
At YesCanDo Money, we recognise the critical importance of timing in the home-buying process. Our mission extends beyond merely securing a mortgage; we are dedicated to matching you with the UK’s best mortgage lenders—focusing on speed and reliability, as revealed by our comprehensive 2024 data. We know that a superior mortgage provider ensures efficient and seamless mortgage process navigation. Our mortgage team is dedicated to accelerating your home-buying journey, supporting you every step of the way. With YesCanDo Money, you’re on a fast track to homeownership, guided by experts who prioritise your aspirations and streamline the mortgage application approval process.
In 2024, we observed another significant shift in the mortgage landscape, with mortgage lenders’ average approval times continuing to decrease—a trend that underscores the evolving dynamics of the UK property market. The year began with remarkable activity levels, making it one of the busiest starts we’ve seen in 15 years. This resurgence in market activity reflects strong demand and a thriving property market. However, it also brings challenges, as the increased volume of applications places additional pressure on lenders to maintain service levels.
Starting 2025 the momentum is encouraging, however, there is a risk that some lenders may struggle to keep up, potentially affecting service quality. At YesCanDo Money, we proactively address these challenges on behalf of our clients, ensuring that their journey to homeownership remains smooth and efficient. By working with responsive and effective lenders, we help our clients navigate the market’s complexities while keeping their home-buying goals on track. – Steve Roberts (Founder of YesCanDo Money)
Top 10 Fastest Mortgage Lenders of 2024 – YesCanDo Insights
Our analysis at YesCanDo Money reveals the mortgage leaders in terms of speed and efficiency for approving mortgage processing in 2024. These mortgage lenders have proved that they can produce a fast mortgage offer.
Our 2024 data from all mortgages organised by YesCanDo Money indicates an increase in the speed of mortgage approval. Data showed that on average, mortgage application submission to mortgage loan approval typically took around 10 days on new mortgage submissions. This follows a significant jump from 2022 to 2023, where approval times decreased by 40% (from 20 days in 2022 to 14 days in 2023). The reduction from 2023 to 2024, though slightly less than the previous year, still reflects an impressive improvement of 29%.
Here are the top 10 best mortgage lenders based on the average number of days mortgage application submission to approval took in 2024 for YesCanDo Money’s mortgages:
Digital Mortgages by Atom Bank
- Mortgage Approval Time: 3 Days
- Process and Speed: Digital is our fastest lender of 2024! Digital Mortgages by Atom Bank are leading the way in speed to get a mortgage approved. Atom Bank prioritises speed, with 27% of applications receiving a formal mortgage offer the same day and 39.5% within the next day. Leveraging advanced automation like Automated Valuation Models (AVM) and Automated Income Verification (AIV) delivers a seamless and efficient experience for brokers and borrowers alike.
Halifax
- Mortgage Approval Time: 8 Days
- Technological Innovations: Halifax continues to impress with its modern approach, including real-time application tracking and document uploads via its intuitive app.
NatWest
- Mortgage Approval Time: 10 Days
- Streamlined Operations: NatWest has made strides in streamlining its processes, achieving a competitive 10-day average approval time through efficient systems and broker support.
Barclays
- Mortgage Approval Time: 10 Days
- Technology and Customer Care: Barclays’ use of AI-driven processing and robust broker relationships ensures a smooth application journey and quick approvals.
Santander
- Mortgage Approval Time: 10 Days
- Responsive Processing: Santander’s efficient back-end operations and customer-centric approach have resulted in a 10-day average approval time.
BM Solutions
- Mortgage Approval Time: 12 Days
- Efficiency in Documentation: BM Solutions provides reliable service focusing on clear communication, helping clients navigate the process in an average of 12 days.
Coventry Building Society
- Mortgage Approval Time: 12 Days
- Streamlined Processes: Coventry Building Society’s seamless documentation and user-friendly online portal contribute to their 12-day average approval time.
Leeds Building Society
- Mortgage Approval Time: 13 Days
- Personalised Services: Leeds Building Society provides a tailored experience, achieving a 13-day average approval time in dealings through our brokerage by focusing on bespoke underwriting processes that cater to individual client circumstances.
Nationwide Building Society
- Mortgage Approval Time: 13 Days
- Customer-Centric Approach: Nationwide’s robust processing systems and emphasis on customer care have resulted in an average approval time of 13 days.
Skipton Building Society
- Mortgage Approval Time: 13 Days
- Digital Efficiency: Skipton Building Society highlights digital efficiency and a customer-friendly online platform, enabling them to maintain a 13-day average to get a mortgage approved through our brokerage’s support.
The Importance of Speed in Mortgage Processing
In the quest for homeownership, they speed of mortgage processing is not a mere convenience but a critical factor that can significantly impact the outcome. Swift and efficient time to get a mortgage approved empowers buyers in several ways, making speed an invaluable component in the competitive property landscape.
- Capitalising on Opportunities: In the UK’s bustling property market, desirable homes rarely stay on the market for long. A speedy mortgage process allows potential buyers to move quickly, making competitive offers that stand out. This agility is especially crucial in hot markets where delays can mean losing out to faster-moving competitors.
- Reducing Stress: The journey to purchasing a home is often fraught with anxiety and uncertainty. A prolonged mortgage process can heighten these feelings, leaving buyers in limbo. Accelerating the process alleviates this stress and creates a more positive buying experience.
- Cost Efficiency: Time is money, particularly in property-buying transactions. Delays can lead to various financial drawbacks, including the risk of interest rates rising or the costs associated with extending rental agreements. A faster process mitigates these risks, potentially saving buyers significant money.
- Enhanced Planning and Decision Making: Knowing your mortgage is secured swiftly enables better planning. Buyers can make informed decisions about their move, organise logistics confidently, and manage their finances more effectively, knowing the exact terms of their mortgage early on.
At YesCanDo Money, we’re keenly aware of these factors. Our approach is designed to speed up the mortgage process and ensure it’s a smooth, transparent, and predictable journey for our clients. By prioritising speed, we aim to provide our clients with a mortgage and a clear path to their future homes, making the dream of homeownership a swift reality.
YesCanDo: Your Mortgage Broker for Fast Lenders
Speed and efficiency are paramount in the intricate journey of securing a mortgage. YesCanDo Money understands this, which is why we’ve tailored our services to streamline the mortgage process and ensure that you, the client, can move swiftly and securely towards owning your dream home. Here’s how we assist our clients in navigating the world of fast mortgage lenders and getting a good mortgage deal:
- Personalised Expert Guidance: Our team of experienced mortgage advisors is at the heart of our service. They provide tailored guidance, drawing on a deep understanding of the market and various mortgage lenders’ specific speed and efficiency strengths. This bespoke advice means we can quickly align your financial profile with lenders known for rapid processing, avoiding any mismatch that could cause delays.
- Rigorous Pre-Application Preparation: We conduct comprehensive pre-application checks before any application is submitted. This meticulous review process ensures your documentation is complete and accurate, addressing any potential issues that could slow down your application. It’s our way of ensuring your application is positioned for success from the start.
- Utilising WhatsApp for Speedy Communication: YesCanDo Money embraces technology through WhatsApp for fast and efficient communication with our clients. This approach allows for the quick exchange of information and documents, real-time updates on your application status, and immediate answers to any questions, keeping the process moving smoothly and swiftly.
- Strong Relationships with Lenders: Our longstanding relationships with a wide array of UK mortgage lenders are key to our ability to expedite the mortgage process. These relationships with the largest lenders, as well as specialist lenders, enable us to communicate directly and effectively with lenders, advocating on your behalf and swiftly navigating through any hurdles that may arise during the application process.
- Continuous Support and Clear Communication: From your initial inquiry to the moment you receive your mortgage approval, we’re with you every step of the way. Our commitment to clear and ongoing communication means you’re always informed about the progress of your application and what to expect next, eliminating uncertainties and making the waiting period less stressful.
- Post-Approval Guidance: Our support extends beyond obtaining your mortgage. We’re here to advise on subsequent steps, such as liaising with solicitors and managing the exchange process, ensuring a smooth transition to homeownership.
At YesCanDo Money, our approach is centered on leveraging personal expertise, efficient communication tools like WhatsApp, and strong lender relationships to streamline the mortgage application process. By doing so, we not only enhance the speed of mortgage processing for our clients but also provide a personalised, stress-free path to securing their new home.
Tips for Homebuyers Seeking Quick Mortgage Approval
Efficient navigation through the mortgage process from the best mortgage lender is crucial for securing your dream home in the UK’s competitive property market. Here are essential steps and advice for expediting your mortgage.
1. Engage a Mortgage Broker: A mortgage broker can be invaluable in speeding up your mortgage approval process. Brokers have extensive market knowledge and can recommend mortgage providers with the quickest processing times. They also proactively chase lenders on your behalf, ensuring your application keeps moving. Their expertise and relationships can be a significant advantage in securing a speedy approval.
Discover the 5 Best Mortgage Brokers in the UK here >
2. Get Your Documentation in Order: Before applying, gather all necessary documentation, including proof of income (e.g., payslips, tax returns), bank statements, proof of ID, and other relevant financial documents. Having these documents prepared can significantly reduce processing times.
Learn how to prepare for a mortgage application here >
3. Check Your Credit Score: Your credit rating is pivotal in mortgage lending and your mortgage application. Early in the process, check your credit report for accuracy and identify any areas for improvement. Addressing issues or improving your score can enhance your chances of a quick approval.
Get a FREE credit report with Checkmyfile UK: Enhance Your Credit Score for Mortgage Success
4. Improve Your Debt-to-Income Ratio: Lowering your debt levels can make you a more attractive candidate to the biggest mortgage lenders. Paying off debts, especially those on high-interest credit cards can improve your debt-to-income ratio, a key factor lenders consider.
Calculate your DTI ratio here with our Debt to Income Ratio Calculator
5. Save for a Larger Deposit: A larger deposit reduces the lender’s risk and may facilitate a quicker approval process. It can also secure better interest rates, reducing the overall cost of your mortgage.
Learn how to raise the money for a mortgage deposit here >
6. Maintain Employment Stability: Lenders look for stable, reliable income when assessing mortgage applications. Avoid changing jobs or making significant career changes during the application process, and steer clear of large purchases or new debts that could affect your financial profile.
7. Consider a Mortgage in Principle: A mortgage in principle signals to sellers that you are a serious buyer with preliminary financing approval, potentially speeding up the property buying process once you find a suitable home.
Get a free Mortgage In Principl here >
8. Keep in Close Contact with Your Mortgage Broker: Effective communication with your mortgage broker can help avoid delays. Use instant messaging services like WhatsApp for quick information exchanges and to stay updated on your application’s progress.
9. Stay Informed About the Market: An understanding of the current property market and mortgage rates can help you make informed, timely decisions. Being aware of the latest lender offers and interest rate trends can influence the speed and success of your mortgage application.
View the Best Mortgage Rates UK here >
By following these tips, including leveraging the expertise of a mortgage broker, you can streamline the compare mortgage lenders, including the biggest lenders, to get the perfect combination of the lowest interest rate alongside a speedy mortgage.
Frequently Asked Questions
How fast can you get a mortgage in the UK?
Typically, obtaining a mortgage in the UK can take anywhere from a few weeks to a few months, depending on the lender, the complexity of your financial situation, and how quickly you can provide the necessary documentation.
Which mortgage lender is the easiest?
The lender often varies depending on your credit history, income, and employment status. Lenders that utilise technology for streamlined application processes are generally perceived as easier to work with.
How fast can you get a mortgage in the UK?
Typically, obtaining a mortgage in the UK can take anywhere from a few weeks to a few months, depending on the lender, the complexity of your financial situation, and how quickly you can provide the necessary documentation.
Which mortgage lender is the easiest?
The lender often varies depending on your credit history, income, and employment status. Lenders that utilise technology for streamlined application processes are generally perceived as easier to work with.
Who is the fastest mortgage lender in the UK?
Digital Mortgages (Atom Bank) has been among the fastest mortgage lenders in the UK for YesCanDo Money clients, with approvals as quick as 1-3 days.
What is the fastest mortgage offer?
The fastest mortgage offer can come from the largest mortgage lenders with efficient online application processes and underwriting, potentially offering pre-approval within a few days.
What's the shortest mortgage you can get in the UK?
The shortest mortgage term commonly available in the UK is 5 years, although this can depend on the lender and the specific mortgage product.
Can you get a mortgage quickly?
Yes, some lenders offer fast-track processes for mortgage applications, especially if you have all the necessary documentation ready and have a straightforward financial situation.
How quickly can a mortgage be approved?
A mortgage can be approved in as little as a few days with some lenders, especially if you apply for a mortgage in principle first, but typically, it takes a few weeks.
What is the easiest type of mortgage to get?
Fixed-rate mortgages are often considered the easiest to qualify for due to their straightforward terms and because they don't require an understanding of complex interest rate movements.