How long does it take to apply for a loan?

This is sort of a ‘how long is a piece of string?’ question.

It all depends on the lender. An application can take anything from a few minutes or a day, to several weeks.

Where they differ is the process after the application. For instance, a small personal unsecured loan is likely to be faster than a mortgage for £200,000, as additional documentation is required.

So the piece of string really depends on your situation, the lender you choose, the forms to complete, and how quickly you can return the forms.

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