Bridging Loans Jigsaw

Auction Properties Bridging Loans

Renovate Your Property Before Placing It For Auction

The housing market in the United Kingdom is still particularly weak except for some areas in the South of England and other scattered locations throughout the country. Properties are therefore not achieving their asking prices, particularly commercial property and this has resulted in many more sales, both residential and commercial, through a growing number of auction houses. A rich source of competitively priced and bargain properties can be found at auctions, some of which specialise in commercial although many auctions take place on a monthly basis with both residential and commercial properties for sale. These properties are highly suitable for long term letting purposes or immediate refurbishment and sale. Although auction properties tend to require upgrading, this gives the pro-active investor the chance to buy properties cheaply and undertake immediate renovation. Bridging Loans Ltd is able to provide funding for the purchase of the properties and / or the renovation costs.

However, before being a successful bidder at an auction, the property investor would require to have available cash funds or an available facility from Bridging Loans Ltd. We are able to provide auction finance at short notice and the investor is able to run the property details past us prior to the auction, so that he knows whether we are able to provide the finance that he requires when faced with the bidding process. We can provide up to 70% of the purchase price of residential property and up to 65% of commercial property. Therefore the investor only requires finding the 10% deposit and the balance of the completion funds. We are able to act quickly to have everything in place well before the auction houses completion deadline of 28 days after the auction, subject of course to there being adequate security. We are also able to use the investors other property as a means to providing additional finance and this way we are often able to provide the full 90% balance of the purchase price within the 28 day deadline. Subject to the condition of the property and its valuation we are also able to fund any renovation or refurbishment required to the property, and once the building / decoration work is complete, the property investor would be able to approach his mainstream bank for a long term buy to let mortgage, thus providing an exit strategy for the bridging loan.

Bridging Loans Ltd is able to provide the bridging finance quickly and efficiently to assist you in completing the auction purchase and the subsequent refurbishment of the investment property.

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Bridging Loan Requirements

  • Amount of bridging loan required
  • Value of security property
  • Period for which the bridging loan is required
  • How will the bridging loan be repaid?

Personal Details

  • Your name (inc. Mr/Mrs/Ms)*
  • Your Date of Birth
  • Telephone Number (Home)
  • Mobile Number
  • Email address*
  • Amount of any existing mortgage on the property being used as security
  • Address of the property being offered as security*
  • Town/City*
  • Postcode*