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Short term lending for auction purchases/sale under value

Short term lending for auction purchases/sale under value

We have fast, short term finance solutions for clients who wish to purchase at auction, whether this is for owner occupied or investment purposes.  Our lender panel caters for solutions where the property is sold under market value and/or in need of refurbishment and modernisation.  Properties which are not deemed as ‘habitable’ by a valuer will not usually be able to be purchased using a standard mortgage.  We are able to guarantee funds within the 28 day auction terms.

Our team can provide short term lending solutions to complete the purchase, usually with additional funds to do the works to the property and bring it back to a habitable state.  A traditional mortgage or sale of the property is usually how the finance is repaid.

 

  • Clients can achieve up to 80% LTV, some lenders will base this on open market value where the property is sold under value
  • Typically, rates can start in the region of mid 0.44% pm (for 55% LTV), depending on the client/property profile
  • The maximum term available is 12 months for owner occupied and 18 months for investment
  • For non-regulated (investment purposes) cases, we can arrange for the interest to be retained, rolled up, serviced or a combination of these
  • Exit solutions available, please ask

Get an instant quote.

Call: 01277 561 138
Visit www.easysource.co.uk anytime to submit your enquiry.

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Call: 01277 561 138
Email: stl@brightstar.co.uk
Submit your client’s details at www.easysource.co.uk and select ‘call my client’.