The Loans Engine has revealed that 41% of its second charge mortgage cases in Q1 2025 were completed in under two weeks, with some finalised in just a matter of days.
The firm said this quick turnaround reflects ongoing advancements in lender processes and a competitive lending landscape that continues to drive innovation.
Key improvements resulting in faster processes include the introduction of desktop valuations and e-signatures, as well as the growing trend of some lenders issuing conditional offers before receiving consent from the first mortgage lender.
These developments make it easier than ever for clients to access funds for debt consolidation, home improvements, or other financial needs.
Steve Nobbs (pictured), director at The Loans Engine, said: “Thanks to smarter technology and greater lender flexibility, we are seeing a genuine transformation in how quickly we can deliver outcomes for clients.
“The innovations being introduced by lenders are having a positive impact on the sector, particularly in improving turnaround times, which is exciting.”
