Auction Bridging Finance

Purchasing auction property using bridging finance

Property can be purchased quickly and easily at auction using bridging finance. Bridging finance caters for the purchasing of all types of property in all types of conditions when more traditional methods of finance fail due to the condition of the property and speed of completion required.

Example:

You are selling your current property and wish to purchase another property at auction. You attend the auction and enter a successful bid. You then pay the required 10% deposit but require the remainder of the funds from the sale of your current property to enable completion within the required 28 days. We could raise the finance on your existing property enabling the balance to be paid for the auction property. This route helps ensure that you are not forced into a quick sale at a reduced price on your current property. The bridging loan is then repaid when your current house is sold.