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Auction Purchase

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Product
Key Product Criteria

The auction purchase product has the advantage of providing funds quickly. Decisions can be provided prior to the auction so that clients have surety that in case they are successful they will have the funding to complete the purchase within the tight deadlines.

Purpose:

Preapproved funding available before auctions, or secure funds for an auction purchase

Maximum loan size:

£3,500,000

Loan term:

1 to 12 months

MAX LTV:

70%

Arrangement fee:

2%

Interest method:

Retained or Serviced

Monthly rates from:

0.78%

Charge:

First

Early repayment charge:

None

Other Criteria:

Residential, semi-commercial or commercial. To be classed as semi-commercial, the residential element must account for at least 50% of the value and have separate access.

Have a Case? Let's Discuss
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Andy Georgiou

Senior Business Development Manager
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Chris Stylianides

Head of Business Development