Using a bridging loan for your auction finance requirement will ensure the funding is available, within your deadlines.
Buying at auction is very different to a standard property purchase, completion is often required within 28 days, so your finance and conveyancing need to be in order within days of the auction.
We work with proven lenders who are ready to move to get your auction finance approved and drawn down.
Property purchased below it's market value (BMV) can be funded at up to it's assessed value.
This is a specialised area and advice should be taken before committing to a purchase.
Auctions do not count as under value purchases, just good value!
Speak to your Acorn.finance expert about your bridging loan options.
If your business or property portfolio needs a quick cash injection, then a bridging loan could be the ideal solution.
Arranged in as little as a few days, so long as the exit plan is sound funding can be for any purpose (as long as it's legal!)
So contact us now to find out your bridging finance options.
From development finance and refurbishment loans to buy to let mortgages and commercial property investment loans, your Acorn.finance advisor has a huge range of lenders and products available for you to develop your portfolio and grow your property income.
We call it F.U.N.D.E.D. It’s a 6 step process, which is unique to Acorn.finance.
Facts – Before we start it’s important for all the business facts, financials and background to be available.
Understanding – Only by understanding you and your business will the solution be the best for your growth plan.
Needs – By fully understanding your plans we’ll work with funders who will meet your needs both now and for the future.
Discuss – Working with our panel of the best funders in the market we’ll work through your case with them to ensure they understand your needs in detail.
Execute – By using Acorn.finance to arrange your funding you save hours of time spent on calls and applications. We work with the finance company to streamline every finance case.
Deliver – We work hard with the lender and all the professionals involved to ensure you get the business finance you need, when you need it.
It works from when you are first introduced to your Acorn.finance consultant.
They will take the time to understand your experience, needs and opportunities before working with our leading panel of lenders to finance your business or property needs.
Whatever the reason you took a bridging loan, understanding your repayment plan is vital for the lender.
Repayment of your bridging finance can't be left to chance, so we'll work with you to make sure the plan is viable and there's likely to be a lender there on a buy to let mortgage, commercial investment, owner occupier commercial mortgage or a residential mortgage with Acorn.mortgage
The other option at the end of the bridge might be a sale.
Especially for completed developments, refurbishments or conversions, or where deeds and properties have been split into multiple units.
If selling the property is your repayment strategy then we'll need to understand the likely demand for the finished property and what it's likely to sell for.
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