Get help with your auction purchase
When buying at auction, speed is everything. If you win a property, you’ll usually need to complete within 8 weeks. Standard mortgages often take much longer — leaving you at risk of losing both the deal and your deposit.
That’s why Hollis Morgan has partnered with Mortgage Style and our sister company Brunel Bridging: to give buyers like you quick access to the right finance.
Get in touch for a free, no-obligation chat about how we might be able to help you. A fee may be payable if we progress your application. Our average fee is around £200.
Your home may be repossessed if you do not keep up repayments on your mortgage
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Why you need specialist finance advice at auction
- Tight deadlines – auction rules mean you must complete quickly, usually within 8 weeks. Specialist lenders can meet these deadlines, while most high street mortgage providers can’t.
- Property condition – some auction properties need work before they’re mortgageable. Bridging and development finance could allow you to buy now and renovate before refinancing.
- Confidence & clarity – a broker experienced in auction purchases like us knows which lenders will accept unusual or complex properties, saving you time and stress.
How bridging loans help auction buyers
Bridging loans are short term finance solutions providing quick finance when it’s needed in a range of scenarios but especially helpful when buying at auction.
You can:
- Secure the funds to complete within auction timescales.
- Borrow against the property you’re buying (or even use another property you own as security).
- Cover not only the purchase price but also the cost of refurbishment or development.
- Roll up interest and most fees, so there are no monthly repayments during the loan term (unless you choose to pay them more regularly).
- Exit flexibly – either by refinancing onto a standard mortgage once the property is habitable, or by selling it on.
Want to know more? Listen to Marcus Robinson, our MD and Olly Hollis, Director at Hollis Morgan, talk about what happens at auction and why it’s important to sort your finance before you bid.
Please note, bridging loans for a property you won’t live in and any development finance will be arranged via our sister firm, Brunel Bridging.
Take the Next Step
- Review the property details, listen to your plans and discuss your borrowing needs.
- Flag potential issues before you commit.
- Line up the right finance to meet strict auction deadlines.
Speak to our auction finance team today
Get in touch for a free, no-obligation chat about how we might be able to help you.
Your home may be repossessed if you do not keep up repayments on your mortgage