Purchasing at a property auction or in a BMV quick sale assistance.
A cost effective and quick way of purchasing a house with a view to rent it out, or business premises is to visit a property auctioneers. You need to prepare. Before you bid, even before you go, you need to have a 10% deposit available. This means that the amount you can actually spend is dictated by what you can afford as a deposit. However there is an advantage in this when it comes to auction finance for commercial properties or investment purchases.
Assuming you have the deposit, you could secured a purchase somewhere in the region of 70% of its true market value. So for instance, a retail unit valued at £100,000 is bought by yourself at £70K or thereabouts. Minus your 10% which has to be paid almost instantly. That leaves you with £63,000 to find to buy the building outright.
Funding for all
As a principal lender we offer our own unique form of lending, but we can also crowd source finance and work with other lenders too.
We do not do credit checks. We can also lend without proof of income, or to non status companies and individuals. These means we will look at the market value of the property and lend up to 70% LTV. That means up to £70,000 on a property valued at £100,000.
Your commercial bridging loan being designed to be used as auction
finance will more than cover this. We also pay out quickly, sometimes
within 48 hours. So within 2 days of the auction you own the commercial
The best rates on all borrowing formats
Business bridging loans.
Based solely on equity, even those with a less than perfect credit history can bridge that gap with us.
Don't miss out on a property bargain eith an almost instant decision on funding.
Use a Director of your company as a guarantor to get high value financing sorted quick time.
Not a loan, a credit facility that you only pay interest on what you actually use and not the full amount.
Please be advised that each and every month your commercial bridging loan is outstanding you will be liable for an interest repayment, which depending on the value of your bridging finance, can range from anywhere between 0.5% and 1.0%.
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There are no early repayment penalties, so Assuming you are going to sell quickly, & manage to do so in a month, you are only liable for one months interest. If you qualify for 0.5% interest, on £63,000, then your settle figure would be £315.00.
IF YOU HAVE REFUSED ELSEWHERE GIVE US A CALL. WE LEND ON EQUITY IN THE PROPERTY USED AS SECURITY NOT ON CREDIT REPORTS AND EVEN WITH AN IRREGULAR INCOME STREAM.