Auction finance enables property developers to secure a below-market-value property. It is designed to work with the timescales that the auction houses offer to complete the purchase of a lot.

Most auction houses offer 6 weeks from the hammer to complete the purchase of a lot. Some only offer 4 weeks. Our auction finance providers are aware of the need to move fast. To speed the process up some bridging lenders will not even require a valuation prior to completion.

Auction finance is designed to work with the timescales that the auction houses offer to complete the purchase of a lot.

They will either instruct a valuation quickly or visit the property themselves and come back with a decision. Some lenders will lend on the basis of the auction value and then complete the valuation post purchase.

We can organise speedy finance for auction purchases. In most cases no proof of income is required, simply proof of deposit funds. Our lenders can move fast allowing you to complete in the time required and avoid losing your deposit.

Some lenders will provide funds to buy a property, and advance funds to renovate It if required. The level of renovation required is classed as either light refurbishment (no major structural changes) or heavy refurbishment (movement of internal walls/extensions). Depending on the level of work required there are different products which will suit a borrower’s needs. You can then either sell it hopefully for a profit, or we will arrange long term finance for you to rent it out.

Unlike a term mortgage this type of funding doesn’t focus on the affordability of repayments, as no repayments will be made until the end of the term when the full balance plus interest will be due. The focus is simply on the value of the asset and the loan made against it. To some extent the credibility of the property investor also plays a role.