Speed is important in all types of Bridging Loans. But with Property Auction Finance the timing is crucial bearing in mind the very short time scales that are imposed.
Auction purchase used to be the private domain of the property developer and wealthy individual but in recent years auctions have become more common place and an opportunity for the “novice” property purchaser to acquire investment and development properties or even a new home.
First Sterling Finance can give you immediate access to an auction funding package which will make purchasing property at auction as simple and as hassle free as possible.
A loan facility will be agreed subject only to valuation. For an auction purchase a loan facility of up to 75% of the market value can be considered. In some cases this could mean we can fund up to 100% of the agreed purchase price.
You can attend the auction and bid with total confidence that funds subject to valuation are available to complete the purchase: You will still need to provide a deposit on the day of the auction –but we would even look at an advance against an existing property to provide the deposit money if needed.
Once your bid is successful, a valuation of the property will be arranged and solicitors instructed to complete the necessary procedures. You may choose to have the property valued prior to the auction date to provide you with further confidence in your purchase.
Most auctions require completion of the property transaction within twenty eight days. With First Sterling Finance, funds can be available within just a matter of days.
For peace of mind, certainty and no hassle auction property buying contact the Short term Loans & Auction Finance Experts now!!
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.
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