Bridging Finance for Auction Property Purchases
Buying a property at auction is an exciting opportunity, but it often comes with time constraints. At Credx, we understand that auction purchases require quick, reliable bridging finance. Whether you’re a seasoned investor or a first-time buyer, our tailored bridging solutions can help you secure your auction property with ease.
What is Auction Property Financing?
Auction property financing is a type of short-term loan specifically designed to help buyers purchase properties at auction. Auctions often require buyers to complete their purchase within a very short timeframe—sometimes just 28 days or less. Traditional lenders may not be able to meet these deadlines, which is where bridging finance comes in.
With our bespoke bridging loans, you can act quickly and ensure you’re able to secure your winning bid.
Why Choose Credx for Auction Property Purchases?
Speed and Efficiency: Auction purchases require fast turnaround times. We offer quick loan approval and funding to ensure you don’t miss out on the property of your choice.
No Credit Score Check: We understand that auction purchases are about seizing opportunities, not perfect credit scores. We don’t rely solely on credit scores when making decisions.
Up to 80% Loan-to-Value (LTV): We provide up to 75% LTV on auction properties, allowing you to borrow a larger portion of the purchase price.
Flexible Repayment Terms: Tailored repayment schedules that work around your auction purchase timeline. Pay off the loan when you sell or refinance the property.
Expert Guidance: Our team has years of experience and offers you professional advice at every stage of the auction process.
The Auction Property Purchase Process with Credx
Initial Consultation
We’ll start by understanding the auction property you’re interested in and your specific funding needs. You’ll receive a clear, tailored recommendation on the finance options available to you.
Quick Property Evaluation
Once you have identified the property, we’ll evaluate its potential and the loan amount you need. We take a pragmatic approach to lending and will assess the value of the property, regardless of whether it requires renovation or is already in good condition.
Loan Offer and Agreement
Upon receiving all necessary documentation, we’ll issue a loan offer. We can offer funds within a few days, ensuring you’re ready to bid on the property.
Auction Purchase
With the funds in place, you can confidently bid at auction. Once you win the property, we’ll ensure your finance is in place so you can complete the purchase promptly.
Repayment Options
After the purchase, you can choose from flexible repayment options, such as refinancing the loan or selling the property for a quick return.
Why Bridging Finance is Essential for Auction Property Purchases
Auction property purchases come with strict deadlines. Typically, buyers must complete the purchase within 28 days. Traditional mortgage lenders take much longer to process applications, meaning they might not be able to meet auction timelines. With bridging finance, you can secure funds immediately, ensuring you never miss a great opportunity.
Get in Touch with Credx
Ready to discuss your bridging finance needs? We’re here to help. Contact us today to speak with a member of our team.
- Phone:0204 628 0990
- Email:info@credx.co.uk
- Address: Credx, Suite 9, The Old Rectory Business Centre, Gravesend, Kent DA11 8HN
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