Auction finance is the same as bridging or short term finance. It is used to purchase properties at auction as it can be arranged quickly.
We have lenders where the valuation and solicitors are instructed the same day with a fast track legal process to reduce the stress. All the lender asks, is that you have completed one previous project.
Daily interest, no exit fees and some of the best rates in the market. Also covers light and heavy refurbishment.
|Type||Loan to Value||Fixed Rate per Month|
|Standard & Light Refurbishment||Up to 50%||0.43%|
|Standard & Light Refurbishment||50.01% - 65%||0.53%|
|Standard & Light Refurbishment||65.01% - 75%||0.70%|
|Standard & Light Refurbishment||75.01% - 85%**||0.80%|
|Heavy Refurbishment||Up to 50%||0.60%|
|Heavy Refurbishment||50.01% - 65%||0.65%|
|Heavy Refurbishment||65.01% - 75%||0.75%|
- The loan may not exceed either 85% LTV against the lower of Day 1 purchase price/ value, or 70% of after works value (whichever is lower)
- All funds are advanced to the borrower on Day 1
- No Quantity Surveyor required, just an interim inspection at the end of month 3
Contact us for a quote.Tags: Auction Finance, Bridging, Refurbishment Cost Lending, Short Term Lending