Auction property mortgage

Auction Property Mortgage

Special features of what we offer include:

• Finance from £25,000 to £25 million

• Auction property finance deals

• Fast turnaround - We can move quickly to get short term finance in place

• Whole of market service - we can find the most suitable mortgage to replace short term auction finance based on your requirements

• Access to leading bridging finance and mortgage rates

• Access to exclusive loan deals not available on the high street

To investigate your bridging finance and mortgage options call our mortgage team or fill in our call back form.

Compare Auction Property Finance

Sometimes getting the necessary cash together to secure your perfect auction property can be a challenge, but fortunately there is a specialist type of short term loan, designed for property owners, which could help.

A bridging loan is a type of loan designed to get you the funds you require faster time frame than with conventional mortgages.

How can a bridging loan help with auction property finance?

If you plan on buying a property at auction, it is essential to be aware that the process moves quickly.

To secure the property, you will be required to pay a percentage of the property’s value on the day of the auction. 

The remaining money will then be paid within a short time frame, usually around 28 days. 

The fast-paced nature of the property auction process means you need to be completely ready to pay before the auction even commences.  If you do not pay up within the required timeframe, you could lose not only your property but also your deposit (up to 10% of the value of the property). 

Advantages of bridging loans for auction property finance

When it comes to buying property at auction, a bridging loan can offer many advantages, such as:

• A decision can be made within hours of the initial enquiry to the lender, and the money can be made available within days. This allows the bidder to easily complete the auction purchase within the time frame specified by the auction company.

• You could also use a bridging loan to pay the 10% deposit required, provided that you agree this with your bridging loan provider prior to the auction date.

• You may be able to secure the bridging loan against any current property that you own, and of almost any type – residential, commercial or even land only.

Replacing bridging finance with a mortgage on your new property

Bridging finance provides a good short term solution for moving quickly, but it is expensive debt. Replacing this debt with a mortgage is something you would want to do fairly quickly once you have secured the property at auction.

We can help with this process by calling us - call us with your requirements or complete our callback form.