What Is Auction Finance?

Auction Finance is, by definition, the very swift and timely provision of funds in order to assist customers to complete the purchase of property or land at auction. The funds are in the form of a bridging loan, enabling you to complete the purchase within the very limited time allowed at auction. SCI are specialists in funding auction purchases and moving quickly to ensure the property acquisition is secured for customers.

Uses For Auction Finance

SCI provide auction finance for any purchase at auction houses in the UK. Property destined for renovation and redevelopment, home purchases, and land with potential for development (with or without planning permission) are all accepted as security for your bridging loan.

Advantages Of Auction Finance

Auction Finance is fast-paced, hassle-free funding, designed to take the pressures out of buying at auction. SCI understand that auctions can be intimidating, especially for first-time buyers/developers. With years of experience in auction purchases and readily available advice from our team of property professionals, you can be assured that an auction purchase with SCI will be both profitable and enjoyable.

Common Auction Finance Situations

Property is often bought at auction with the intention of a quick renovation project followed by a profitable sale. We can assist with the costs of refurbishment as well as the purchase. Upon completion of the improvement works, the funds released from the sale of the property are used to repay the loan, leaving a healthy margin of profit for the developer.

With land purchases due for development projects, the bridging loan can also be used in stages to cover 100% of the construction costs as well as up to 75% of the purchase price.

In cases where the property is destined for a buy-to-let investment or home purchase, the bridging loan can simply be used to guarantee the purchase. After this point the client is free to shop around for a more traditional mortgage solution without the pressure of deadlines.

Rapid Auction Finance Decisions

SCI are specialists in providing fast bridging finance for auction purchases. Working directly with us will enable you to make informed decisions on the day of the auction, with the knowledge that your financing is organised. Financing after the purchase is also easily taken care of, with SCI working to your deadlines to secure your property. Don't forget - we are the principal lenders. The funds are ready when you are!