Bridging Loans For Auction

Special features of what we offer if you need finance for an auction purchase:

• Bridging loans - From £50,000 to £25m

• Fast turnaround - speak to us today if you need to move quickly

• Whole of market service - we can compare short-term finance providers across the UK market

• Access to leading market mortgage rates - in most cases after you have secured your auction property you will want to replace short-term or bridging finance with a mortgage - we can help

• Exclusive finance deals - Access to exclusive loan deals not available on high street

To investigate your auction finance options, call our mortgage team on 0117 313 6058 or fill in our call back form.

As buying a property is such an important transaction, good financial advice is imperative.

Bridging Loans For Auction

Need to move quickly? At auction you cannot leave things to chance when it comes to finance. You need to be well prepared. Getting the necessary cash together to secure your perfect auction property can be a challenge. 

Fortunately, there is a specialist type of short-term loan that could help property owners called a bridging loan.

This type of finance is designed to get you the funds you require in a faster time-frame than would usually be available with a conventional mortgage.

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 fast.

You will be expected to pay a percentage of the property’s value on the day of the auction (typically 10%) in order to secure it. Then you will need to provide the rest of the money in a short timeframe, 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 your property and your deposit.

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:

• Bridging loans for an auction property 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 timeframe 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.

Call our auction bridging loan team on 0117 313 6058 or request a callback.