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Understanding bridging auction finance
Purchasing properties at auctions is an enticing way to secure deals for property investors in the UK. In January 2024, property auctions saw a 45% increase in the number of lots offered when compared to January 2023. This means an increase in the number of options available to property investors.
However, winning a property auction also comes with a tight payment deadline. Once an auction is completed and the property is won, the successful bidder only has a short timeframe – typically 28 days – to complete the purchase by paying the remaining balance. This is where a bridging loan for financing an auction purchase is incredibly beneficial, and KSEYE specialise in this kind of loan.
What is bridging auction finance?
Bridging loans are short-term loans designed to help buyers secure funds quickly, making them ideal to meet the payment deadline for auction purchases. Properties at auctions range are diverse, including residential, commercial, and mixed-use assets. They are an increasingly popular way to acquire property, with properties on average selling between 85% to 90% of their market value at auctions, giving savvy investors an opportunity to acquire properties at lower prices.
Why choose a KSEYE bridging loan to fund your auction purchase?
At KSEYE, we understand the pressures of obtaining finance for auction purchases and have 12 years of experience in helping a diverse range of borrowers, including assisting many investors to fund their property auction purchases.
Here’s how:
A track-record of meeting funding deadlines
We specialise in meeting tight deadlines, which is ideal for borrowers looking for a bridging loan to complete their auction purchase. Our streamlined processes start with indicative terms in a matter of hours, and we can deliver funds in a matter of days when it is needed.
Pre-agreed auction finance to bid with confidence
As we know the time-pressure that investors can feel to secure funding after winning a lot at auction, we can start the funding process ahead of the bidding. Our pre-agreed auction finance bridging loans enabling buyers to secure indicative loan terms in advance, ensuring buyers can bid confidently, knowing the process of obtaining finance is underway.
An expert in-house legal team
Our in-house legal team is something which many lenders do not have. They enable us to deal with any complexities in a bridging loan quickly, speeding up the loan process as we don’t need to rely on external support. They also work closely with our panel of solicitors to keep the legal process moving along quickly, which is essential for any bridging loan with a deadline.
Ready to bid confidently?
When it comes to auction finance, speed, expertise and reliability are non-negotiable. KSEYE deliver all three, giving you full confidence to bid and secure your next property investment.
To learn more about KSEYE’s approach to auction finance, visit our dedicated product page, or to discuss a pre-agreed auction bridging loan, contact us today.