Auction Finance

Auction finance in the UK is another type of bridging loan geared specifically for purchasing properties in the auction. It is designed to help buyers quickly fund the purchase of property bought at an auction with full purchase price is usually required within 28 days of hammer falling with 10% deposit is required on the day of auction. Most bridging lenders are well equipped for auction finance with some lenders can even complete these transactions in 5 days! When buying properties in an auction, it is very important to check all figures, view the property and most importantly review the legal packs associated with the property to ensure all risks are understood before bidding on the lot. Once you are the successful bidder, we will initiate the auction finance application immediately, ideally on the same day and work with lender, valuer and solicitor to complete the purchase on time.