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Auction Finance

QUICK & SIMPLE FUNDING

If you are looking to buy at auction normally this process requires fast funding, in some cases you may even be required to provide ‘proof of funds’ to obtain a property purchase at auction we can potentially raise you up to 75% LTV for your auction purchase.

If you are looking into a project where a property will require structural work, renovation or a light refurb we can assist. More often than not property in a run down condition is not favoured for longer term financing and will require short term funding to be secured until the required work is completed.

Bridging Loans offer the flexibility of a short term solution to complete your purchase prior to completion of any remedial work allowing the property to be fit for a longer term product. Bridging loans also offer retained interest meaning you will not have to pay a monthly fee while carrying out your project.

Auction finance for the property developer.

Auction finance is a great way to secure a property below its market value, often auction property is a motivated sale and could be just what you need if your looking to kick start your property development journey. When starting out it is very important to manage your expectations for your first ‘flip’ or investment.

Auction finance can also be a very intelligent way for experienced and established developers to expand a current portfolio. Buying property below the market value can really be the difference to ensuring a profitable return on your investment.

Auctions can be a risky way to buy property, they are often sold on tight schedules and this can put on unnecessary pressure if you haven’t carried out your research.

How can I benefit from auction finance?

Raising your hand and bidding on property worth hundreds of thousands of pounds can be daunting, even if you have been to a few auctions it can still be scary. If you win the bid you will have to pay a non refundable deposit on the day usually 10% of your winning bid. Thereafter you will have 28 days to pay the remainder of the balance.

The timeframe for auctions is much shorter than a traditional method of purchasing property and it can be very difficult to get the funds together in time even with a portfolio full of property with plenty of equity it is important to consider the timeframe you have to complete the transaction. Auction finance is a flexible product with options available to assist with the initial purchase and then convert your facility into a longer term, traditional buy to let mortgage. The best way to approach your auction finance is to achieve a agreement in principle prior to auction. This will then give you a clear idea of your budget and the criteria when bidding on your desired property.

This method of auction finance is extremely helpful for you as a borrower – you will have a clear understanding of how much you can borrow and what specification of property the lender will fund.

Auction finance is it the right product for me?

If you want to buy at auction and have your capital tied up in other investments and don’t want to miss an opportunity then it would be considered a logical solution for you. Maybe you have plenty of capital but do not wish to invest it all into one purchase and want to focus on the growth and secure a more valuable property for a bigger return. If a property is deemed uninhabitable you will most likely not be able to secure a traditional method of purchasing the property – with a auction bridge loan you can secure a property for a short term and once you have carried out any remedial works – refinance onto a longer term product.

It is also important to consider your level of experience, from a lenders perspective a borrower that has successfully built a portfolio is considered less risk when funding potential purchases. This does not mean that if it is your first venture you cannot borrow, it will simply be a case of providing more security to the lender in the way of funds or additional assets. Buying at auction can be one of the most exciting ways to get ahead on the property ladder, if you are looking to expand your portfolio in rapid fashion or start your property portfolio journey auction bridging loans can be your first step into a successful business.

To speak to us please call 01202 897182 or email info@financejeanie.co.uk

Funding available all over the UK (area list)

Finance Jeanie have you covered. Our team can offer you funding no matter where you live in the United Kingdom. Contact us via phone or email to discuss your funding or loan requirements.

County, Town & City List

Finance Jeanie provide funding options to clients all over the UK including all the following counties. We cover all the major towns and cities. If you do not see your location in the following list please don’t hesitate to ask.

Avon

Bath Bristol Clevedon Fulton Keysham Weston Super Mare

Bedfordshire

Bedford Biggleswade Dunstable Flitwich Leighton Buzzard Luton

Berkshire

Ascot Bracknell Hungerford Maidenhead Newbury Reading Sandhurst Slough Thatcham Windsor Wokingham

Buckinghamshire

Amersham Aylesbury Beaconsfield Buckingham Chersham Denham Gerrards Cross High Wycombe Marlow Slough Stoke Mandeville Taplow

Cambridgeshire

Cambridge Chatteris Ely Girton Godmanchester Huntington Newmarket Ramsey Soham Whittlesey Wisbech

Chesire

Chester Crewe Nantwich Northwich Macclesfield Runcorn Tarporley Warrington Widnes

Cornwall

Bodmin Falmouth Newquay Padstow Penzance Redruth Truro

Cumbria

Barrow In Furness Carlisle Kendal Penrith Whitehaven Wilton Workington

Derbyshire

Alfreton Ashbourne Belper Bolsover Buxton Chesterfield Codnor Crich Cromford Derby Duffield Glossop Heanor IIkeston Long Eaton Littleover Matlock Melbourne Ripley Sponson

Devon

Barnstaple Exeter Honiton Plymouth Paignton Torquay

Dorset

Blandford Bournemouth Christchurch Poole Weymouth Dorchester Wareham Wimborne Shaftesbury

Durham

Durham Bishop Auckland Chester-Le-Street Durham Seaham Sedgefield Spenny Moor Stanhope

Essex

Basildon Billericay Braintree Brentwood Canvey Island Chelmsford Clacton-On-Sea Colchester Epping Hadleigh Harlow Rayleigh Tilbury

Gloucestershire

Cheltenham Cinderford Cirencester Clearwell Gloucester Kingswood Slimbridge Stroud Tewkesbury

Greater Manchester

Bolton Bury Manchester Oldham Rochdale Stockport Wigan

Hampshire

Basingstoke Andover Aldershot Farnborough Petersfield Tadley Portsmouth Fareham Gosport Havant Hayling Island Waterlooville Southampton Hedge End Romsey Totton Winchester Alton Eastleigh Stockbridge

Herefordshire

Hereford Kington Ledbury Leominster Ross-on-Wye

Hertfordshire

Bushey Chorley Wood Elstree Hatfield Hemel Hempstead Hertford Hitchin Letchworth Potters Bar Sawbridge St.Albans Stevenage Tring Watford Welwyn Garden City

Isle of Wight

Cowes Newport Ryde Sandown Shanklin Venture

Kent

Ashford Canterbury Chatham Dartford Dover Faversham Hythe Maidstone Margate Ramsgate Rochester Royal Tunbridge Wells Sevenoaks

Lancashire

Accrington Blackburn Blackpool Burnley Chorley Clitheroe Lancaster Liverpool Manchester Morecombe Preston Skelmesdale

Leicestershire

Ashley-De-La-Zouch Coalville Earl Shilton Leicester Loughborough Market Harborough Melton Mowbray Syston

Lincolnshire

Gainsborough Grantham Grimsby Lincoln Boston Bourne Brigg Spalding

Merseyside

Birkenhead Liverpool St.Helens Southport

Middlesex

Acton Brentford Camden Town Chiswick Edgware Enfield Fulham Hackney Hampstead Harrow Hounslow

Norfolk

Alysham Diss Fakenham Great Yarmouth King’s Lynn Loddon Norwich Sheringham Thetford Watton

Northumberland

Alnwick Ashington Berwick-On-Tweed Blyth HalfWhistle Morpeth

Nottinghamshire

Bingham Hucknall Mansfield Nottingham Newark-On-Trent Ollerton Retford

Oxfordshire

Abingdon Banbury Bicester Bloxham Chinnor Cholsey Didcot Henley-On-Thames Kidlington Wantage Woodstock

Shropshire

Bridgenorth Ludlow Madeley Newport Shrewsbury Telford Wellington Wem

Somerset

Bath Bridgewater Burnham On Sea Crew Kerne Taunton Wells Weston-Super-Mare Yeovil

Staffordshire

Burton-On-Trent Cannock Keele Leek Lichfield Newcastle-Under-Lyme Stafford Tamworth Uttoxeter Wolverhampton

Suffolk

Brandon Bury St.Edmunds Felixstowe Ipswich Lowestoft Stowmarket Sunbury

Surrey

Camberley Chertsey Cobham Dorking Epsom Esher Farnham Godaming Guildford Haslemere Leatherhead Redhill Reigate Staines Sunburn-On-Thames Walton-On-Thames Weybridge Woking

Sussex

Sussex Bexhill on Sea Brighton and Hove Crawley Eastbourne Hastings Horsham Worthing

Teeside

Hartlepool Middlesbrough Redcar Stockton-On-Tees

Tyne and Wear

Gateshead Jarrow Newcastle Under Tyne South Shields Sunderland Whickham

Warwickshire

Coleshill Coventry Leamington Spa Nuneaton Rugby Stratford Upon Avon Studley Warwick

West Sussex

Arundel Billingshurst Bognor Regis Bosham Chichester East Grinstead Fishbourne Lancing Littlehampton Midhurst Petworth Selsey

Wiltshire

Amesbury Chippenham Malborough Salisbury Swindon Tidworth Warminster Wilton

East Riding of Yorkshire

Beverley Bridlington Driffield Goole Hornsea Hedon Pocklington

North Yorkshire

Harrogate Northallerton Malton Pickering Ripon Richmond Scarbourough Selby Skipton Stokesley Tadcaster Thirsk Whitby

South Yorkshire

Barnsley Dinnington Doncaster Maltby Mexborough Penistown Rotherham Sheffield Swindon

West Yorshire

Batley Bingley Bradford Castleford Dewsbury Halifax Helden Bridge Huddlesfield Keightley Leeds Morley Otley Wakefield Wetherby

Monmouthshire

Abergavenny Caldecott Chepstow Monmouth USK

Mid and West Glamorgan

Aberdare Barry Bridgend Caerphilly Merthyr Tydfil Neath Ponty Pridd Porch Cawl Port Talbot Swansea

South Glamorgan

Barry Cardiff Cathays Ely Penarth

Gwent

Abertillery Beaufort Blaine Brynmawr Ebbe Vale Newport Tredegar

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