A break down of our Auction Bridging Finance Rates and products
We all know purchasing a property at an auction can be very lucrative but the process is time-sensitive, as such standard mortgages usually fail to cater for auction properties. It is therefore essential you source the right type of specialist finance to ensure you are equipped to fulfil on your bid.
Auction bridging finance works slightly differently to traditional short-term finance, for example in certain instances the lender will not need a valuation report on the property and will just work of a % of the purchase price at the auction. This forward-thinking way of working reduces cost and the process to Offer considerably.
Another streamlining benefit of specific auction bridging finance is lenders allow you to have joint solicitor representation with them. This strips out duplication as everything is dealt with by the same firm.
When it comes to auction bridging finance speed and efficiency is key to the process so it is essential you deal with experts within this sector
Niche Advice Limited charges 1% of the loan with a minimum of £500 but only payable on completion of the case which means if the deal doesnt progress to full ownership for any reason you don’t have to pay any fees to Niche Advice.
For more information on the range of auction bridging finance rates and products please Niche Advice us on (020) 7993 2044 or alternatively complete the enquiry form on this page
Author: Payam Azadi
Payam Azadi is a partner at Niche Advice who are whole of the market Independent Mortgage Brokers. His role is very much focused on Property financing both on residential and commercial lines.