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Mortgages For Auction Properties

Best Auction Finance Rates

I Want To Buy At Auction I Want Mortgage Advice

Mortgages For Auction Properties

We offer an auction finance service to help you secure UK property.

Market leading rates - 3 to 36-month terms - Finance from £25,000 - Expert Advice

    • 4.12% Initial
    • 3 year fixed
    • 7.3% APRC
    • Cashback Max £250
      Free Legals
      Free Valuation
    • Get quotes
    • 4.12% Initial
    • 3 year fixed
    • 7.2% APRC
    • Cashback Max £250
      Free Legals
      Free Valuation
    • Get quotes
    • 4.14% Initial
    • 5 year fixed
    • 5.9% APRC
    • Cashback £0
      Free Legals
      Free Valuation
    • Get quotes
    • 4.15% Initial
    • 5 year fixed
    • 6% APRC
    • Cashback Max £1,250
      Free Legals
      Free Valuation
    • Get quotes
    • 4.18% Initial
    • 5 year fixed
    • 6.7% APRC
    • Cashback Max £250
      Free Legals
      Free Valuation
    • Get quotes

Representative example based on a fixed rate mortgage

A mortgage of £375,000 payable over 20 years initially on a fixed rate for 5 years at 4.38% and then at the standard variable rate of 7.65% for the remaining 15 years would require 60 monthly payments of £2,351.88 and then 180 monthly payments of £2,899.55.

The total amount payable would be £663,156.80 which includes interest and product fees of £1,124.

The overall cost for comparison is 6.5% APRC representative.

Early repayment charges may apply.

Mortgages for Auction Properties

Buying property at auction with our service

We offer a first-class auction finance & mortgage service based in Bristol: 

The following are some of the special features we offer:

  • Bridging Finance from £50,000 to £25 million
  • Whole of market service - we use over 20 UK auction lenders to help you find the right deal
  • Latest Rates - Access to leading market auction mortgage rates
  • Exclusive Offers - Access to mortgage deals not available on high street
  • Fast turnaround - speak to us today if you need to move quickly - we can arrange same-day terms and work to 5 to 7 working day completion timescales if you need to move fast 

Auction property mortgages

The process of buying a property at auction can offer an alternative to traditional home buying, but it does require a slightly different approach to mortgage financing. It is typical for successful auction property bidders to be required to pay a 10% deposit at the auction, followed by a 28-day payment period - so if you haven't arranged a mortgage before the auction, you don't have a lot of time to do so.

Before the auction begins, get a mortgage offer

It's a good idea to arrange this before you place your successful bid and pay your 10% deposit. It is possible that you will lose your deposit as well as your chance to buy the property if you fail to pay the remaining 90% balance within the allotted time frame.

Mortgage tips for auction properties

In order to receive a mortgage offer for an auction property, you will need to get a mortgage survey and valuation done. Before attending a property auction, it is important to have your finances in order and to have a clear budget in mind – don't get carried away and bid beyond your means.

  • Include extra moving costs, such as removal services, as well as mortgage-related expenses, such as solicitor and surveyor fees, in your budget.
  • You should seek out mortgage brokers who specialize in lending on auction properties, especially if the property needs extensive renovations or has structural problems. 

Independent Auction Mortgage Advice

If you are not sure what your auction finance options are speak to our independent mortgage broker team who will be able to offer impartial advice or you can call us on 0117 403 3464

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