Buying at auction with Bridging Finance
Bridging Finance can be very useful for financing a property bought at auction for two reasons:
1) It can be put in place on average within 5-10 working days
2) It will finance property that needs renovation and can be financed with a long term mortgage in its curent state.
However Bridging Finance will not be suitable in all cases and it is best to talk to us before proceeding to the auction.
We have had cases where customers have contacted us after buying at auction and having paying their 10% deposit, they were looking for a Bridging loan. However to the nature of the property and the amount the customer required the loan could not be arranged and the customer lost their deposit.
Using our exertise of both the Bridging Finance market and also our expertise of the financing methods to repay the Bridging Finance we can very quickly inform you if a Bridging loan could be arranged.