diff --git a/drivers/mtd/spi-nor/spi-nor.c b/drivers/mtd/spi-nor/spi-nor.c
index 0aee1232ad3d..c66095fbffab 100644
--- a/drivers/mtd/spi-nor/spi-nor.c
+++ b/drivers/mtd/spi-nor/spi-nor.c
@@ -4454,6 +4454,7 @@ static void spi_nor_info_init_params(struct spi_nor *nor)
 	struct spi_nor_flash_parameter *params = &nor->params;
 	struct spi_nor_erase_map *map = &params->erase_map;
 	const struct flash_info *info = nor->info;
+	struct device_node *np = spi_nor_get_flash_node(nor);
 	u8 i, erase_mask;
 
 	/* Initialize legacy flash parameters and settings. */
@@ -4465,18 +4466,25 @@ static void spi_nor_info_init_params(struct spi_nor *nor)
 	params->size = (u64)info->sector_size * info->n_sectors;
 	params->page_size = info->page_size;
 
+	if (!(info->flags & SPI_NOR_NO_FR)) {
+		/* Default to Fast Read for DT and non-DT platform devices. */
+		params->hwcaps.mask |= SNOR_HWCAPS_READ_FAST;
+
+		/* Mask out Fast Read if not requested at DT instantiation. */
+		if (np && !of_property_read_bool(np, "m25p,fast-read"))
+			params->hwcaps.mask &= ~SNOR_HWCAPS_READ_FAST;
+	}
+
 	/* (Fast) Read settings. */
 	params->hwcaps.mask |= SNOR_HWCAPS_READ;
 	spi_nor_set_read_settings(&params->reads[SNOR_CMD_READ],
 				  0, 0, SPINOR_OP_READ,
 				  SNOR_PROTO_1_1_1);
 
-	if (!(info->flags & SPI_NOR_NO_FR)) {
-		params->hwcaps.mask |= SNOR_HWCAPS_READ_FAST;
+	if (params->hwcaps.mask & SNOR_HWCAPS_READ_FAST)
 		spi_nor_set_read_settings(&params->reads[SNOR_CMD_READ_FAST],
 					  0, 8, SPINOR_OP_READ_FAST,
 					  SNOR_PROTO_1_1_1);
-	}
 
 	if (info->flags & SPI_NOR_DUAL_READ) {
 		params->hwcaps.mask |= SNOR_HWCAPS_READ_1_1_2;
@@ -4865,24 +4873,9 @@ int spi_nor_scan(struct spi_nor *nor, const char *name,
 	nor->page_size = params->page_size;
 	mtd->writebufsize = nor->page_size;
 
-	if (np) {
-		/* If we were instantiated by DT, use it */
-		if (of_property_read_bool(np, "m25p,fast-read"))
-			params->hwcaps.mask |= SNOR_HWCAPS_READ_FAST;
-		else
-			params->hwcaps.mask &= ~SNOR_HWCAPS_READ_FAST;
-	} else {
-		/* If we weren't instantiated by DT, default to fast-read */
-		params->hwcaps.mask |= SNOR_HWCAPS_READ_FAST;
-	}
-
 	if (of_property_read_bool(np, "broken-flash-reset"))
 		nor->flags |= SNOR_F_BROKEN_RESET;
 
-	/* Some devices cannot do fast-read, no matter what DT tells us */
-	if (info->flags & SPI_NOR_NO_FR)
-		params->hwcaps.mask &= ~SNOR_HWCAPS_READ_FAST;
-
 	/*
 	 * Configure the SPI memory:
 	 * - select op codes for (Fast) Read, Page Program and Sector Erase.