Properties won at auction are required to pay a 10% deposit on the day and signing of a legally binding contract to pay the remaining 90% within 28 days this makes bridging finance the go to for securing auction property purchases. Bridging loans come into their own in time constrained property purchase and are ideal for bridging the gap until a longer-term property finance or sale can be achieved. Bridging loans at auction are available for Commercial and semi-commercial buildings, Land, Residential and buy to let properties.
It is advisable to get the property valued and the bridging finance agreed prior to the auction. Yes you could lose out on the property and lose the valuation money, however, if you tried to do this the other way around and pay your 10% deposit and are unable to finance the remaining 90% then you could potentially lose all of that money.
In rare circumstances where bridging loans cannot be used to secure the auction property, other property you or someone willing to help owns can assist with the initial purchase. If you require the 10% deposit this can also be raised secured against other property.
The exit route for bridging finance is usually sale or refinance and will prove to be key to the lender as they will need to be confident either one is suitable.
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.
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.
Bath Bristol Clevedon Fulton Keysham Weston Super Mare
Bedford Biggleswade Dunstable Flitwich Leighton Buzzard Luton
Ascot Bracknell Hungerford Maidenhead Newbury Reading Sandhurst Slough Thatcham Windsor Wokingham
Amersham Aylesbury Beaconsfield Buckingham Chersham Denham Gerrards Cross High Wycombe Marlow Slough Stoke Mandeville Taplow
Cambridge Chatteris Ely Girton Godmanchester Huntington Newmarket Ramsey Soham Whittlesey Wisbech
Chester Crewe Nantwich Northwich Macclesfield Runcorn Tarporley Warrington Widnes
Bodmin Falmouth Newquay Padstow Penzance Redruth Truro
Barrow In Furness Carlisle Kendal Penrith Whitehaven Wilton Workington
Alfreton Ashbourne Belper Bolsover Buxton Chesterfield Codnor Crich Cromford Derby Duffield Glossop Heanor IIkeston Long Eaton Littleover Matlock Melbourne Ripley Sponson
Barnstaple Exeter Honiton Plymouth Paignton Torquay
Blandford Bournemouth Christchurch Poole Weymouth Dorchester Wareham Wimborne Shaftesbury
Durham Bishop Auckland Chester-Le-Street Durham Seaham Sedgefield Spenny Moor Stanhope
Basildon Billericay Braintree Brentwood Canvey Island Chelmsford Clacton-On-Sea Colchester Epping Hadleigh Harlow Rayleigh Tilbury
Cheltenham Cinderford Cirencester Clearwell Gloucester Kingswood Slimbridge Stroud Tewkesbury
Bolton Bury Manchester Oldham Rochdale Stockport Wigan
Basingstoke Andover Aldershot Farnborough Petersfield Tadley Portsmouth Fareham Gosport Havant Hayling Island Waterlooville Southampton Hedge End Romsey Totton Winchester Alton Eastleigh Stockbridge
Hereford Kington Ledbury Leominster Ross-on-Wye
Bushey Chorley Wood Elstree Hatfield Hemel Hempstead Hertford Hitchin Letchworth Potters Bar Sawbridge St.Albans Stevenage Tring Watford Welwyn Garden City
Cowes Newport Ryde Sandown Shanklin Venture
Ashford Canterbury Chatham Dartford Dover Faversham Hythe Maidstone Margate Ramsgate Rochester Royal Tunbridge Wells Sevenoaks
Accrington Blackburn Blackpool Burnley Chorley Clitheroe Lancaster Liverpool Manchester Morecombe Preston Skelmesdale
Ashley-De-La-Zouch Coalville Earl Shilton Leicester Loughborough Market Harborough Melton Mowbray Syston
Gainsborough Grantham Grimsby Lincoln Boston Bourne Brigg Spalding
Birkenhead Liverpool St.Helens Southport
Acton Brentford Camden Town Chiswick Edgware Enfield Fulham Hackney Hampstead Harrow Hounslow
Alysham Diss Fakenham Great Yarmouth King’s Lynn Loddon Norwich Sheringham Thetford Watton
Alnwick Ashington Berwick-On-Tweed Blyth HalfWhistle Morpeth
Bingham Hucknall Mansfield Nottingham Newark-On-Trent Ollerton Retford
Abingdon Banbury Bicester Bloxham Chinnor Cholsey Didcot Henley-On-Thames Kidlington Wantage Woodstock
Bridgenorth Ludlow Madeley Newport Shrewsbury Telford Wellington Wem
Bath Bridgewater Burnham On Sea Crew Kerne Taunton Wells Weston-Super-Mare Yeovil
Burton-On-Trent Cannock Keele Leek Lichfield Newcastle-Under-Lyme Stafford Tamworth Uttoxeter Wolverhampton
Brandon Bury St.Edmunds Felixstowe Ipswich Lowestoft Stowmarket Sunbury
Camberley Chertsey Cobham Dorking Epsom Esher Farnham Godaming Guildford Haslemere Leatherhead Redhill Reigate Staines Sunburn-On-Thames Walton-On-Thames Weybridge Woking
Sussex Bexhill on Sea Brighton and Hove Crawley Eastbourne Hastings Horsham Worthing
Hartlepool Middlesbrough Redcar Stockton-On-Tees
Gateshead Jarrow Newcastle Under Tyne South Shields Sunderland Whickham
Coleshill Coventry Leamington Spa Nuneaton Rugby Stratford Upon Avon Studley Warwick
Arundel Billingshurst Bognor Regis Bosham Chichester East Grinstead Fishbourne Lancing Littlehampton Midhurst Petworth Selsey
Amesbury Chippenham Malborough Salisbury Swindon Tidworth Warminster Wilton
Beverley Bridlington Driffield Goole Hornsea Hedon Pocklington
Harrogate Northallerton Malton Pickering Ripon Richmond Scarbourough Selby Skipton Stokesley Tadcaster Thirsk Whitby
Barnsley Dinnington Doncaster Maltby Mexborough Penistown Rotherham Sheffield Swindon
Batley Bingley Bradford Castleford Dewsbury Halifax Helden Bridge Huddlesfield Keightley Leeds Morley Otley Wakefield Wetherby
Abergavenny Caldecott Chepstow Monmouth USK
Aberdare Barry Bridgend Caerphilly Merthyr Tydfil Neath Ponty Pridd Porch Cawl Port Talbot Swansea
Barry Cardiff Cathays Ely Penarth
Abertillery Beaufort Blaine Brynmawr Ebbe Vale Newport Tredegar
Please feel free to contact us via phone or email and we will get back to you within 24 hours.
