Investors looking to buy property at auction often need auction finance. The main benefit of auction finance is the speed at which funds can be delivered. MT Finance is often able to make lending decisions within hours of an initial enquiry, so funds can be released in a matter of days.
What’s more, we will work closely with you to ensure you go into an auction fully prepared and at a competitive advantage over others.
If you have identified a target property and set yourself a maximum level you are willing to pay, we can review your loan options at an early stage, prior to auction and provide you with an Offer in Principle. You can then go into an auction room and bid with confidence, knowing your finance will be delivered in time for completion, with minimum fuss.find out more
- Rates from 0.65%
- Loans from £50,000- £10,000,000
- Up to 70% LTV
- Terms from 1-24 months
- Residential/commercial/semi-commercial assets
- Adverse credit, CCJs and arrears accepted
- No up-front fees, no exit fees, no ERCs
- No credit scoring
We will review your enquiry and if our criteria matches your requirements, we will review and respond with an Offer in Principle (OIP). We can usually provide you with an OIP within 2 business hours. If you're happy with our offer, simply sign it and email it back to us.
We will instruct a RICs surveyor from our panel to value all properties offered as security for the loan – our valuation reports are typically produced within 72 business hours. Whilst we wait for the valuation report, we will need your solicitor’s details.
We will send your solicitor our Checklist of Requirements. If the valuation report is acceptable for the loan to proceed as per the terms agreed, we will confirm this to your solicitor and then issue the mortgage deed for your witnessed signature.
Once our solicitor is in receipt of all satisfactory replies and supporting documentation, we are ready to go! Within 24 hours of receipt of the report on title, we arrange the transfer of funds to your solicitor to complete the transaction.
we are a leading property finance lender
providing fast, flexible and transparent solutions including:
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Our short-term refurbishment loan products are available to property investors, landlords and developers who are looking to upgrade their investment assets with speed and minimum fuss.find out more
The main benefit of auction finance is the speed at which funds can be delivered. MT Finance is able to deliver funds in a matter of days and we can approve an application prior to auction.find out more
Our heavy refurbishment product is designed to help property investors and developers fund a renovation with speed. We can also provide funding in stages to keep the costs down.find out more
A second charge bridging loan could be the ideal solution for those who already have a mortgage secured against their property but require further funds for a short period of time.find out more
A short-term loan from MT Finance is an effective means of raising funds quickly, enabling landlords and property investors to take advantage of investment opportunities in the buy-to-let market.find out more
Whether funds are needed to acquire stock, provide additional capital to stimulate growth, or to facilitate a new venture, MT Finance is committed to providing liquidity to the SME sector.find out more
We can make lending decisions within hours of initial enquiry and release funds in less than a week, preventing borrowers from missing out on time-sensitive opportunities that come their way.find out more
Auction finance can be a fast and effective way to purchase a property from an auction.
There are some great deals from buying property at an auction and if you have done your research, you could be in for a bargain.
If you have attended the auction day and won the bid, you are required to pay 10% upfront once the gavel hits.
You have 28 days to come up with the remaining 90% of the property value – and whilst this can often be supplemented with savings and by other investors, many people turn to auction finance to get access to quick funds and seal the deal.
Auction finance provides funds within the 28-day period so you do not risk losing your property won at auction – and you are not bound by delays or administration associated with traditional mortgages.
If you cannot come up with the required funds in 28 days, you will risk losing the property that you won at auction and your 10% deposit.
Auction finance provides a fast solution and can typically be funded in 2 to 4 weeks, or sooner, if you have prepared your application beforehand.
The potential margins on winning and redeveloping a property won at auction can be substantial and not something that you want to risk losing.
To approve an auction finance application, MT Finance will need to know a little more about the property you have purchased (or intend to purchase), including its current state, value and your plans for it.
We require every applicant to be a UK-resident and to provide plans and information about the property that they are purchasing.
We are a non-status lender and are willing to consider the self-employed and individuals with little or adverse credit histories.
Yes, you can apply for auction finance before the auction date and we can offer you indicative terms and an understanding of what your maximum bid can be.
Your loan can be pre-approved and subject to winning the property at auction, you can proceed very quickly thereafter.
However, this is not a pre-requisite and you can always apply for auction finance after the bid has been won.
MT Finance can approve auction finance loans within a matter of days and successfully transfer funds to the individual or business within 2 to 4 weeks. The factors that might delay the funding process include the complexity or features of the property under offer.