Auction Property Finance
A bridging loan is the perfect funding method used by many landlords and property investors to fund the purchase of a property they intend to buy at auction.
Buy a property at auction using a bridging loan
Buying properties at auction can be exciting and intimidating in equal measure. But what must be remembered is that when the dust settles, full payment for the property you purchase needs to be provided within 28 days. Otherwise, you run the risk of losing not only the property you were bidding on but also your deposit in its entirety.
This is where auction finance can offer a welcome lifeline to homebuyers and investors from all backgrounds. A solution to provide short-term finance whilst you are arranging a longer-term mortgage, auction finance can usually be arranged within the 28-day completion period.
At bridgingfinance.com, we are able to provide a decision in principle directly from the lender so that you are able to go to an auction with full confidence that you are able to achieve the loan amount that you are looking for, subject to further underwriting.
If you are up against the clock when buying property at auction, it’s imperative that you contact us at the earliest opportunity. Our trust-based relationships with niche and private lenders can help you obtain the most appropriate bridge loan in time for the day of the auction.