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Bridging Loans Hotline call now 0117 313 6058

Details sort by initial rateLenderInitial rate Rate type Overall cost for comparisonMax LTVProduct feeMonthly cost Enquire
Initial rate: 0.94%
Rate type: Fixed 24 months
Monthly cost: £561.24 per month
Max LTV: 60%
Product fee: £999
Overall cost for comparison: 3.3% APRC
Nationwide BS logo 0.94% Fixed 24 months 3.3% APRC 60% £999 £561.24 per month get quotes Call us0117 403 4474 More details Broker Only Deal
Initial rate: 0.95%
Rate type: Fixed 26 months
Monthly cost: £561.92 per month
Max LTV: 60%
Product fee: £1,499
Overall cost for comparison: 3.9% APRC
Platform logo 0.95% Fixed 26 months 3.9% APRC 60% £1,499 £250 cashback £561.92 per month get quotes Call us0117 403 4474 More details
Initial rate: 0.98%
Rate type: Fixed 26 months
Monthly cost: £563.95 per month
Max LTV: 60%
Product fee: £1,999
Overall cost for comparison: 3.7% APRC
Cumberland BS logo 0.98% Fixed 26 months 3.7% APRC 60% £1,999 £563.95 per month get quotes Call us0117 403 4474
Initial rate: 0.98%
Rate type: Fixed 26 months
Monthly cost: £563.95 per month
Max LTV: 60%
Product fee: £1,999
Overall cost for comparison: 3.7% APRC
Cumberland BS logo 0.98% Fixed 26 months 3.7% APRC 60% £1,999 £563.95 per month get quotes Call us0117 403 4474
Initial rate: 0.99%
Rate type: Fixed 24 months
Monthly cost: £564.63 per month
Max LTV: 60%
Product fee: £995
Overall cost for comparison: 3.9% APRC
Progressive BS logo 0.99% Fixed 24 months 3.9% APRC 60% £995 £564.63 per month get quotes Call us0117 403 4474 More details Broker Only Deal
Initial rate: 1.00%
Rate type: Fixed 27 months
Monthly cost: £565.31 per month
Max LTV: 70%
Product fee: £999
Overall cost for comparison: 3.0% APRC
Santander logo 1.00% Fixed 27 months 3.0% APRC 70% £999 £565.31 per month get quotes Call us0117 403 4474 More details
Initial rate: 1.00%
Rate type: Fixed 27 months
Monthly cost: £565.31 per month
Max LTV: 70%
Product fee: £999
Overall cost for comparison: 3.0% APRC
Santander logo 1.00% Fixed 27 months 3.0% APRC 70% £999 £565.31 per month get quotes Call us0117 403 4474 More details Broker Only Deal
Initial rate: 1.02%
Rate type: Fixed 26 months
Monthly cost: £566.67 per month
Max LTV: 60%
Product fee: £995
Overall cost for comparison: 3.9% APRC
Skipton BS logo 1.02% Fixed 26 months 3.9% APRC 60% £995 £566.67 per month get quotes Call us0117 403 4474 More details Broker Only Deal
Initial rate: 1.05%
Rate type: Fixed 27 months
Monthly cost: £568.71 per month
Max LTV: 65%
Product fee: £999
Overall cost for comparison: 4.3% APRC
Leeds BS logo 1.05% Fixed 27 months 4.3% APRC 65% £999 £568.71 per month get quotes Call us0117 403 4474 More details Broker Only Deal
Initial rate: 1.05%
Rate type: Fixed 26 months
Monthly cost: £568.71 per month
Max LTV: 60%
Product fee: £999
Overall cost for comparison: 3.9% APRC
Platform logo 1.05% Fixed 26 months 3.9% APRC 60% £999 £250 cashback £568.71 per month get quotes Call us0117 403 4474 More details
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Representative Example:

A repayment mortgage of £120,000 payable over 28 years and 1 month initially on a fixed rate for 2 years at 1.99% and then on the lender current variable rate of 3.69% (variable) for the remaining 26 years and 1 month would require 24 monthly payments of £465.20 and 312 monthly payments of £565.39 and one final payment of £565.19.

 

The total amount payable would be £189,357.67 made up of the loan amount plus interest (£68,161.67), booking fee (£999), completion fee (£30) and valuation fee (£197).

 

In this example the overall cost for comparison is 3.7% APRC representative.

 

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT

Quick Mortgages For Auction

Getting A Quick Mortgage For Buying An Auction Property

Special features of our short term mortgage service for auctions:

  • Borrow from £50,000 to £15 million
  • Term - From 1 month to 36 months
  • Quick turnaround - We can help you get short term finance quickly
  • Access to leading auction finance lenders - we can source low cost short term auction finance based on your requirements
  • Access to leading bridging finance and mortgage rates
  • Access to exclusive loan deals not available on high street

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

quick mortgage for auction

 

Securung a property at auction through a short term mortgage 

Getting quick short term finance for purchasing a property at auction can be a challenge, but fortunately there is a specialist type of short term loan, designed for property owners, which could help.

Called a bridging loan, this type of mortgage is designed to get you the finance you require in a faster time frame than is usually available with a 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 fast – in fact, you will be expected to pay a percentage of the property’s value on the day of the auction in order to secure it, followed by 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 not only your property but also your deposit, which could be as much as 10% of the value of the property. 

Advantages of a short term mortgage (bridging loan) for auction property finance

When it comes to buying property at auction, a bridging loan can help: 

  • With the knowledge that you can secure finance for the property going into an auction if you secure the property at auction money can be made available quickly, 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

Short term finance can be a short term solution for moving quickly but is expensive debt so replacing this debt with a mortgage is something you would to do fairly quickly once you have secured the property at auction.

We can help with this process by calling us on 0117 313 6058  - call us with your requirements or complete our callback form.

 

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Looking for an auction property mortgage? Call or Request a Callback

Call us for a FREE initial conversation on 0117 313 6058 about your auction property purchase options or request a callback.

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Bridging Loans