Bid with confidence with auction finance
Auction finance providers are set up to provide rapid access to properties bought at auction. Because these kinds of deals aren’t generally available on the high street, the lenders of specialist auction property finance will also consider circumstances such as loans for ex-council properties, high-rises and even properties deemed to be uninhabitable (and otherwise ineligible for a mortgage.)
At Hank Zarihs Associates, our experienced and specialist pool of finance lenders will consider all kinds of auction finance applications and circumstances, and we package up our clients’ requests to provide all necessary information and to increase the chance of acceptance.
Bridging finance and auction properties
Our customers tend to have a number of questions about auction finance and similar types of short term bridging loan for property purchases. We always go above and beyond to provide as much information as possible, so that you can make a confident decision.
Is this type of short-term bridging finance right for me?
If you want to buy a property at auction – including residential and commercial – and you are not planning to buy with cash, then auction finance is a suitable loan product designed specifically for auctions. The short-term bridging loan is available very quickly, to a maximum of 75% LTV (loan to value).
Property auction loans can also be used to refurbish properties – say if you want to renovate the kitchen and bathroom before the sale, and – again – they provide short-term finance pending the eventual sale of the property or a switch to a longer-term mortgage.
It’s worth noting that, as a specialist product, you need to be certain of what you are taking on. Short-term bridging loans for property of any kind can be very expensive if you do not understand the terms and conditions, which is why we provide all necessary information to help our clients to make the right decision. Important features of auction finance to know include:
- Interest is charged monthly – from as little as 0.43% pm typical.
- Discounted arrangement fees from 1%
- Maximum loan terms of 24 months.
- Option to have interest fully or part-rolled up, or serviced.
Speak with one of our specialists today!
Ready to find out more about auction finance? Contact one of our expert team members today who will be happy to assist on a no-obligation basis. Our team works Monday to Sunday from 9 am till 9 pm. Simply call us on +44 (0) 20 3889 4403 or schedule a call back at your convenience via our website
We are open for business, we have lenders with ready funds, and we are ready to progress your application to a quick and ready auction finance offer within minutes. Get in touch today!