Auction Finance

Securing A Property Before The 28-Day Deadline

Purchase Price: £425,000

Loan Amount: £318,750

An investor was planning to purchase a property at auction with refurbishment potential and a clear plan for the works following completion.

The main challenge was the 28-day completion deadline. The property’s condition also meant a traditional mortgage was unlikely to be suitable within the timescale required.

Before the auction, Jason discussed the client’s proposed exit strategy, reviewed the refurbishment plans and explored specialist lender options for an auction purchase of this type.

By preparing the information early and setting out the case clearly from the outset, bridging finance was arranged to support the purchase.

Outcome

The client was able to complete within the auction deadline and begin refurbishment works shortly afterwards.

This meant the project could move ahead as planned, with the focus then shifting to the next stage of the works and the longer-term exit route.

These examples are provided for illustrative purposes only. Every case is assessed individually, and available finance will depend on the property, the borrower and lender criteria at the time.