Auction Finance
While auctions offer the prospect of securing a good deal, the competitive nature of bidding can be stressful. We know that you only have a short window of time for purchase and completion. That is why we offer flexible options for financing auction properties.
Whether you are looking to purchase a commercial or residential property, our expert brokers can help you find the right auction finance. This short-term financing solution helps to bridge the gap between completing the purchase and arranging long-term funding. That way, you can bid with confidence and meet deadlines.
Get a FREE Quote
At AptPay, we excel at making short-time finance more accessible for people, regardless of their credit history. We never perform automated credit checks as we do not believe that CCJs or a history of arrears should define your financial future. With strong relationships with the UK’s leading lenders, we can help deliver funds that can be agreed upon before, during or after the auction. Get in touch with our specialist brokers today for a no-obligation chat.
Get A Good Deal In No Time
- Applications are assessed on a case-by-case basis
- Borrow up to £50,000,000
- Fast turnarounds
- Loans up to 24 months
- LTV up to 75%
- Nationwide service
- No excessive fees
- Rates from 0.65%
- Same-day Offer in Principle (OIP)
Meet Short Payment Deadlines In Six Steps
With many years of experience under our belt, we excel at arranging property auction loans. We understand that the process can be overwhelming. That is why we have developed a streamlined process that makes securing a loan much easier and quicker. No matter how tight your deadline is, we can help you fund your auction property. Let our experts take care of the details for you and find the right short-term finance solution.
1. Enquiry
To start the application process, call us on 020 3103 0022 or send an email to info@aptpayment.co.uk. During this stage, we will establish your needs and help you identify the type of loan you will need to purchase a property at auction.
2. Offer In Principle
As we do not carry out credit checks, you can get an offer in principle on the same day. It is at this point that you will be informed of which documents we need from you to underwrite your loan.
3. Third-Party Valuation
As recognised experts in our field, we always arrange a third-party valuation so you can be sure that bridging finance is the right option for you.
4. Confirm The Loan Terms
Once your case has been underwritten, we will confirm the terms of your loan.
5. Send Legal Documents
Once you have accepted the terms of the loan, our team will instruct our solicitors to send the necessary documents to your solicitor.
6. Release Funds
Upon completion, the funds will be released. In some cases, we can release the funds to your solicitor before our solicitors have completed the due diligence process.
When you choose us, there is no need to worry about the progress of your application. We will be by your side every step of the way and keep you informed. It is worth noting that we can complete steps 2 through 5 at the same time if you need to get funding within 48 hours. Speak to our professional brokers today to find out more.
Are You Looking For A Different Solution?
Auction financing provides you with immediate access to short-term funds. However, we understand that it may not be the right option for you. The good news is that we can do more than just help you find finance for an auction property. No matter what you are looking for, we can help you fulfil your funding needs. Our range of services includes but is not limited to:
Why Choose Us?
Property auctions can move at a near-breakneck pace and therefore it is important to act quickly. Otherwise, you run the risk of missing out on an amazing purchase. We can help level the playing field and provide you with the confidence to place a bid without worrying about whether you can secure the funds in time.
With many years of experience in arranging specialist auction finance, our services are second to none. We always take a human approach to finance. We never leave enquiries in the hands of robots and always ensure that our knowledgeable brokers are on-hand to discuss any concerns you may have.
We Are Here To Help
We are proud to offer a nationwide service. No matter where in the UK you are located, our team of brokers are ready to help you find the right short-term finance option for you.
FAQ
What is auction finance exactly?
In simple terms, auction finance is a type of bridging finance that is designed to fund the purchase of auction property. Generally, loans are based on the value of the property as opposed to the lender’s credit status. This means that it is possible to secure a loan in a matter of days or weeks.
What properties can be bought with an auction property loan?
Generally, loans can be used to purchase:
- Residential property, including HMOs
- Investment property
- Owner-occupied property
- Semi-commercial property, such as a retail shop with a residential flat above it
- Land
What costs are involved?
The cost of short-term finance is usually higher than more traditional forms of finance. As a general rule, you can expect to pay:
- A valuation fee
- A monthly interest rate
- An arrangement fee
- The legal fees for both you and your lender
Is it possible to get a bank loan for an auction property?
While it is possible to get a mortgage agreement from a bank, the criteria can be much stricter. That is why specialist finance is ideal for those who do not meet these criteria or simply need a faster solution.
How do you fund an auction property?
With our bespoke financing solutions, you can get the funding you need within a short time frame. Simply speak to our skilled brokers today to learn more about our services.
What happens if you buy at auction and cannot secure finance?
In such cases, you will be in breach of contract and will likely lose your deposit. On top of this, you may have to pay other costs. That is why it is important to make sure you take all the appropriate steps to reduce any risks. Our experts can take care of all the details for you and help you secure a suitable loan.
Location
© 2023. AptPay is a trading name of APT BUSINESS CONSULTANTS LTD, registration number: 12781495 acting as an intermediary of the card payment provider and financial company. AptPay is not liable for any email correspondence, and email correspondence will not be binding legally, please seek independent advice. The registered address is 13 Hanover Square, Mayfair, London, W1S 1HN
Important Notice: We exclusively provide unregulated finance solutions to limited companies incorporated in the UK. We do not offer regulated financing. For more information, please contact our customer support team.