Helping a client meet an auction deadline

See how our team secured a regulated bridging finance loan, working quickly to ensure the client met their auction purchase deadline.

Regulated Bridging Finance for Property Auction

We were approached by a broker with a client looking to purchase an auction property with a strict deadline. The client had an existing home in Leicestershire but were looking to relocate and had not yet found a buyer for their current property, which meant they did not have sufficient funds to purchase the new property she had fallen in love with immediately.

Our client exchanged with a 10% deposit on the property, which had a total purchase price of £325,000. The auction house set a 28-day completion deadline, so we immediately set to work identifying possible solutions that could help our client cover the full cost.

Using our regulated panel access, which provided us with exclusive products on the financial market, we found a lender who could offer a quick underwriting process and an automated valuation.

We organised a loan with a net value of £290,000, managing all the paperwork and processing the application ourselves as the introducing broker was unable to offer advice or support on regulated products.

With the result being that our client was able to complete the purchase of their dream property.

Overview of Case Study

  • Value: £325,000
  • Loan: £290,000
  • Term: 12 months
  • Rate: 1% per month
  • Exit: Sale of existing property

Additional Information

Get In Touch Today