Arranging your property auction finance

Funding your auction purchase is very different to buying a house or commercial property traditionally.

With a normal purchase the timescale is flexible, typically 8 – 10 weeks, depending on the length and complexity of the chain.

When the hammer drops at your auction – you generally have 28 days to complete your purchase.

Before you bid

Our bridging finance brokers are familiar with a whole variety of briding lenders and will be able to walk you through the process of funding before you place your bid.

If you understand the amount of bridging you’ll be able to get, then you can bid with confidence.

Getting ready to buy at auction

Before we get started you’ll need to know exactly what you’re doing. Make sure you have a detailed viewing of the property so there are no surprises down the line. If you’re new to property then arrange to take an expert with you. We’ll need to know the following;

  • How much you expect to pay for the property
  • What your plans are – will you be;
    • Extending
    • Refurbishing
    • Converting or changing use
    • Redecorating
    • Nothing – it’s ready to go!
  • We’ll need rough costings and timescales for any works you have planned
  • What will the property be worth after works?
  • Longer term do you intend to keep the property or sell it on?

Property auction finance products

There is a range of potential bridging products available – talk to one of our independent brokers before the auction, we’ll find the perfect bridging product, the right amount of finance at the best bridging interest rate;

  • Lending up to 90% of the property purchase price for refurbishment projects
  • Fund up to 80% of purchase price if there’s no work to do
  • Rates from under 0.5% per month for lower loan to value

We can even get funding approved in principle before the auction.

As soon as the auction is over our team will get working on the case;

  • Reports arranged
  • Solicitors instructed
  • Full file off to the lender

By having all the paperwork lined up before the auction we’re able to act quickly and ensure your funding is ready before the 28 day deadline.

Refinancing your auction purchase

Because we’re 100% independent we can arrange your refinance with the best lender for you. You’re not tied to the lender who did the auction finance for you.