When you bypass estate agents and buy property at auction, you’ll often find more potential to make a profit. Once the hammer falls, it typically takes a buyer just 4 weeks to complete. However, to bid with confidence at auction, you need one thing above all else: peace of mind that the necessary funds will be available on time.
As the long-standing, preferred partner of some of the UK’s leading auction houses, BFS understands the challenges of buying at auction and takes a pragmatic and flexible approach to find you a funding solution, providing pre-agreed decisions in principle before, during and after a property auction.
With a demonstrable track record funding auction purchases, rest assured BFS can fund your auction transactions whilst long-term funding is arranged. Our team has more than 200 combined years of property and lending experience which enables us to make decisions quickly and consider circumstances other specialist lenders can’t.
How much does auction finance cost?
As with most areas of finance, cost, along with service, trust and deliverability, is a major factor which should be considered. An incorrect choice at the start can lead to a short-term finance contract becoming very expensive further down the line.
Our role at BFS is to ensure you have absolute clarity at the beginning of your journey with us, that you understand all fees and costs associated with the contract and have a firm answer to all your “what if’s”. It is only when we are at this stage that we formally proceed.
As a principal lender, we can assess deals extremely quickly. Our dedicated team will work tirelessly with you and your solicitor to ensure your auction finance is in place within 28 days. Please contact us and speak to one of our experienced and friendly team to discuss your specific circumstances.