Property auctions can often be a great place to grab a bargain – but buying at auction isn’t always as straightforward as you might think.

It is important to have the right finance in place when you go to auction, so that you can secure the property you have set your sights on. From property developers to private individuals, we provide finance to a variety of people and companies who need our help. Due to the short timescale for the purchase and completion of an auction property, long term financing such as mortgages can be difficult to put into place quickly enough in order to meet deadlines.

Investors looking to buy property at auction will often need auction finance. The main benefit being the speed at which funds can be delivered. We are often able to access lending decisions within hours of an initial enquiry and funds can be released in a matter of days.

Getting a mortgage in principle or bridging loan

If you need to borrow money to fund an auction purchase, we can introduce you to our Independent Mortgage Broker who can be available at all stages of the auction cycle to offer guidance.

Advising on available auction finance and short-term lending options, to assisting in the arrangement of a finance package that will be tailored to your specific requirements – helping you secure the funds you need as quickly as possible.

They will work closely with you to ensure you go into an auction fully prepared. If you have identified a property and set yourself an upper limit you are willing to pay, they can have your loan options reviewed at an early stage, prior to auction and provide you with indicative terms. This will enable you to go to an auction and bid with confidence, knowing your finance will be delivered in time for completion.

After the Auction

When the hammer goes down at auction, you are usually expected to pay at least a 10% deposit on your new property straight away, then the balance of the purchase price within 28 days.

Many people turn to auction finance after a bank has let them down at the last minute, or if their personal finances cannot cover the full cost of their new purchase. Whatever your situation, our Independent Mortgage Broker will find a financial solution that works for you.