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 and funds can be released in a matter of days.
What’s more, we will work closely with your client to ensure they go into an auction fully prepared and at a competitive advantage over others. If they have identified a target property and set a maximum level they are willing to pay, we can review their loan options at an early stage, prior to auction and provide them with indicative terms. They can then go into the auction room and bid with confidence, knowing their funds will be delivered in time for completion, with minimum fuss.
We will also take a view on CCJs, defaults, and arrears and do not require a minimum credit score, accounts, or proof of income – instead, we focus on the property and your client’s future plans. Our streamlined process includes no lengthy application forms, allowing us to cut through delays and offer auction finance exactly when, and how, your client needs it.
- Rates from 0.65%
- 1st & 2nd charge loans
- Loans from £50,000 – £10,000,000
- Up to 70% LTV
- Terms from 1-24 months
- Residential, commercial and semi-commercial property
- No up-front fees, no exit fees, no ERCs
- No credit scoring
With no early repayment or exit fees, MT Finance will always help you access the most competitive rate, tailoring a solution to your client’s financial requirements.
To find out more about auction finance, or if you have an enquiry you wish to discuss, contact one of our auction finance experts on 0203 051 2331 or fill in our contact form and someone will be in touch with you shortly.
how can MT Finance help?
Driven by attractive prices and the speed at which a deal can be executed, property auctions are appealing to a wider audience including property investors, who are increasingly visiting auction rooms in a bid to find a good deal.
Property investors can benefit from buying a property at auction below market prices, typically within a 28-day time frame. They can also benefit from contributing smaller deposits of around 10%.
However, an investor wanting to take advantage of these opportunities can often face barriers when it comes to raising funds. Either they are unable to get a mortgage because the property requires major work, or they find it virtually impossible to secure a mortgage in the tight 28-day time frame due to lengthy application processes.
These circumstances have caused auction buyers to rethink their financial arrangements and seek alternative methods of funding, with auction finance offering a solution to the funding gap.
One of the main benefits of auction finance is the speed at which funds can be delivered. Where a mainstream bank may take several months to put together a loan for a borrower, MT Finance is often able to make lending decisions within hours of initial enquiry so funds could be released in a matter of days.