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Auction Financing

Buying a property at auction is very different to a typical property purchase. Completions happen much faster, so it often pays to arrange your finance before the auction. most auction houses do not offer financing options, so you will need to have access to cash before the event. You can get a decision in principal before you attend the auction, and have peace of mind that the deal is there waiting for you if you choose to make a purchase.

Friends Capital have existing relationships with specialist auction finance lenders and are experts in arranging auction finance. We can help you find the best possible mortgage deal. We will review your personal circumstances and then search the entire market to ensure you get the best mortgage rates possible. We will then deal with all the paperwork, submit your mortgage application, liaise with your mortgage lender and solicitor, and ensure that your mortgage application is completed as quickly as possible. We can:  

  • Save you money on your mortgage deal 
  • Offer a free consultation 
  • Offer unbiased financial advice 
  • Save you time in your mortgage application 
  • Give you a dedicated account manager who is available to you through the process 

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Why Do I Need Auction Financing?

You can find amazing deals on property at property auctions. Planning ahead by reading property auction brochures online, and have an approximate figure of what you want. Auction Financing can help in the following ways:

  • Have the cash for a property ready – Then you can contact a mortgage broker, get a decision in principal, and have the mortgage for the property organised, all before you attend. It is very rare a property auction will offer financing opportunities.
  • Mortgage Completion Time Can Take Too Long – Waiting for a traditional buy to let or residential mortgages can take longer than the purchase time allows (usually 30 days to finanlise the transaction at an auction).
  • Raise More Finance – When discussing your situation with a mortgage broker, you may discover that you can borrow a great amount than originally anticipated. Allowing you to make a larger purchase at the auction.

How Does Auction Financing Work?

  • Short-term finance over 1-12 months 
  • Funding for residential investment, commercial property and land purchases 
  • Funding for non-standard construction 
  • All income types considered 
  • Up to 75% loan-to-value 
  • Monthly interest rates from 0.55% (other fees and charges apply). 
  • You will be required to provide a deposit of 10% on any property you win on the day of the auction and generally have 28 days to complete the purchase which is why it`s important to arrange this with a broker.  

How Can Friends Capital Help with Auction Financing?

Friends Capital have existing relationships with auction financing lenders. We can search the entire market and get access to the best and most exclusive deals available. Then we will choose the deal that are most appropriate to your personal circumstance. We can:

  • Find you a lender that specialises in auction financing
  • Find you a deal appropriate to your personal circumstance
  • Offer unbiased financial advice
  • Give advice on what mortgage lenders will require, including giving you advice on an exit strategy for the mortgage end
  • Give you a no obligation mortgage quote
  • Deal with all the paper work, liaise with the lenders and solicitors. We will also make sure the application goes through as quickly as possible

Two Steps to Contacting Friends Capital 

Step 1 

Either call us, email us , book an appointment online or request a call back below.

Step 2 

One of our friendly advisors will either call you back within 24 hours (usually the same working day), or will take details from you in order to best deal with your situation. 

When you speak with us, we will take a ‘fact find’. At this stage we take basic details about your situation. We will then search the whole of the market and find you the best deal available. 

If you are happy with the deal that we offer, we will then contact the lender for you and get you what is called a ‘decision in principal’. 

If you’re happy with the decision in principal then we will secure this deal for you and deal with the application for you on your behalf. 

We aim to get the lowest mortgage rates on the market

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