WHAT IS AUCTION FINANCE?
This is where a bridging loan is used to purchase properties at auction so that completion takes place within a 28- day completion timescale. Normally you will need to pay 10% on the day and then the balance within 28 days.
Latest Auction Finance Bridging Loan Offers
View some of the latest offers from leading lenders.
Product BF01Apply Now |
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| Interest Rate 0.44% | Lender Fee 1.5% | Max LTV 55% | Max Term 18 Months | Min-Max Loan £100,000 - £250,000 | Security Type Residential | Regulated? No |
Product BF02Apply Now |
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|---|---|---|---|---|---|---|
| Interest Rate 0.47% | Lender Fee 1% | Max LTV 50% | Max Term 18 Months | Min-Max Loan £250,000 - £50,000,000 | Security Type Residential | Regulated? Yes |
Product BF03Apply Now |
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|---|---|---|---|---|---|---|
| Interest Rate 0.48% | Lender Fee 2% | Max LTV 50% | Max Term 12 Months | Min-Max Loan £250,000 - £50,000,000 | Security Type Residential | Regulated? Yes |
This is where a bridging loan is used to purchase properties at auction so that completion takes place within a 28- day completion timescale. Normally you will need to pay 10% on the day and then the balance within 28 days.
You can borrow against a range of properties including but not limited to the following:
- Residential Property
- Offices
- Shops
- Hotels
- Semi commercial property
- Land with or without planning permission
- Care homes
- Leisure complexes
- Guest Houses
- Farms
We can help you obtain this type of loan which starts from £25,000 upwards with no limit and can fund 80% Loan to Value (LTV) or even up to 100 % LTV if there is additional security.
What about interest charge rates?
The following are indicative rates for some of the categories mentioned above:
Residential Auction Finance
We can secure residential auction finance on a regulated or unregulated basis up to 75% LTV.
| Loan to Value | 55% | 65% | 75% |
| Interest Rate | 0.44% | 0.54% | 0.64% |
Buying Property for Refurbishment
We can help you to secure property for refurbishment, within 28 days and up to 70% of GDV (gross development value).
| Loan to Value | 55% | 65% | 75% |
| Interest Rate | 0.44% | 0.54% | 0.64% |
Commercial Property
Commercial property can be funded up to 75% LTV.
| Loan to Value | 55% | 65% | 75% |
| Interest Rate | 0.65% | 0.70% | 0.75% |
If you are looking to obtain a development plot at auction, then we can fund both the acquisition and the development. In this case, we can assist you to obtain funds of up to 65% LTV with a typical interest rate charge of 0.95% for smaller plots. We will need to discuss rates regarding larger plots as this will depend on many other factors
How long does the whole process take?
For urgent application, we can generally issue terms within 1 hour as long as no complexities arise. Buying a property via an auction will mean that you will have 28 days to complete a purchase after you have successfully bid on a property. We have access to a range of lenders who will assist you in the process by ensuring that your application is completed within time. We also have access to lenders who in some circumstances can ensure that the application is completed on the same day as submission.
