Auction Finance2018-09-16T12:16:00+00:00

Auction Finance

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What is Auction Finance?

Auction finance is another name for bridging loans or bridging finance. Bridging loans are used to purchased properties at auction as they can comfortably be completed in the 28-day completion timescale.

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Latest Auction Finance Products

Here are some of our latest auction finance products.

Product BL0001 - Apply Now
Interest Rate
0.44%
Lender Fee
1-2%
Max LTV
55%
Security Type
Residential
Min-Max Loan
£100,000 – £5,000,000
Max Term
18 Months
Regulated Accepted?
No
Product BL0002 - Apply Now
Interest Rate
0.48%
Lender Fee
2%
Max LTV
50%
Security Type
Residential
Min-Max Loan
£250,000 – £50,000,000
Max Term
12 Months
Regulated Accepted?
Yes
Product BL0003 - Apply Now
Interest Rate
0.49%
Lender Fee
2%
Max LTV
50%
Security Type
Residential
Min-Max Loan
£10,000 – £2,500,000
Max Term
12 Months
Regulated Accepted?
Yes
CLICK HERE TO COMPARE MORE MARKET LEADING PRODUCTS

How Much Can I Borrow?

We can raise auction finance from £25,000 with no maximum loan size and fund up to 80% LTV (loan to value), or up to 100% with additional security.

If you’ve purchased the property under value, we may be able to fund 100% of the purchase price.

How Quickly Can I Get Terms?

We always issue terms within two hours, but if your application is urgent, we can usually issue terms within 30 minutes, if needed.

How Long Does it Take to Complete?

We understand that although you have 28 days to complete the purchase after successfully bidding on a property at auction, it doesn’t always work out as planned.

No matter what your deadline is, we have access to lenders who can complete your application on time.

Where legal work and valuations are already complete, for instance where a lender has withdrawn their offer late in the day, we have lenders with the capability to complete on the same day that the application is submitted.

What Properties Can I Borrow Against?

We can consider almost any security, including the following:

  • Residential Property
  • Retail Units
  • Property in a Poor State of Repair
  • HMOs
  • Semi-commercial Property
  • Land With Planning
  • Land Without Planning
  • Farms
  • Leisure Complexes
  • Hotels
  • Guest Houses
  • Pubs
  • Care Homes
  • Shops
  • Offices

Residential Auction Finance

We can secure residential auction finance on a regulated or unregulated basis up to 80% LTV.

Loan to Value55%65%75%
Interest Rate0.44%0.54%0.64%

Buying Property for Refurbishment

We can secure property for refurbishment, including title splits and conversions within 28 days and up to 70% of GDV (gross development value). Rates start at 0.44% per month.

Loan to Value55%65%75%
Interest Rate0.44%0.54%0.64%

Commercial Property

Commercial property can be funded up to 75% LTV, with rates starting at 0.65% per month.

Valuation reports for commercial property can sometimes take slightly longer to be undertaken, meaning it’s important your application is submitted ASAP.

Loan to Value55%65%75%
Interest Rate0.65%0.70%0.75%

Development Plots

When you’re looking to secure a plot at auction, we can fund the acquisition and development. ABC can fund land up to 65% LTV and can usually achieve rates from 0.95% per month for smaller plots.

For larger plots with planning, where development will commence immediately, we can offer full development finance from 5.65% over one month LIBOR.

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