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Why do approval timeframes vary so much between loan types?

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Are unsecured business loans suitable for all situations?
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Are second mortgages short term?
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Approval speed depends on the complexity of the loan structure.

  • Traditional lenders prioritise detailed assessment and policy compliance

  • Specialist lenders can act faster where security or exit strategies are clear

Faster approvals often involve higher costs or reduced flexibility, which should be considered when comparing options.