Auction Finance

Auction Finance is a form a bridging finance used for buying property at auction and specifically to complete a transaction quickly (typically within 14 or 28 days).

Auction purchases generally have to be completed within 28 days of the auction, and in most cases a conventional mortgage either cannot be arranged (if the property is not habitable) or will not be available within that time period.

The Auction House will usually ask you to pay 10% of the purchase price, plus the auction fees, at the time your bid is successful. You will then have a further 28 days to complete the purchase.

We can give peace of mind by pre-qualifying a purchaser prior to auction, to give the confidence that funding will be in place. A number of our lenders do NOT require valuations for auction purchases of residential properties, as they will work off purchase price.

To find out more, contact us on 0333 577 3350 for a fast efficient and personal service. Alternatively, complete our enquiry form and we'll call you back.

 

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