Having more than 10 years of auction finance experience means that we have the know-how to help where other brokers often can’t. We pride ourselves on taking a common sense approach to every auction finance application, putting people at the heart of our decision-making, not computers.
What types of property can auction finance be used for?
From short-term bridging loans, right through to buy-to-let mortgages, auction finance loans can be an extremely versatile option for residential, semi-commercial and commercial properties, including land.
Here at Echo Finance, it’s our inclusive approach to lending that sets us apart. So whether you’re a homeowner, investor, business owner or self-employed, you can apply for our auction finance.
Short-term auction finance bridging loans
If you’re successful with your auction bid, things move quickly. You’ll need to pay 10% deposit on the day and the full balance of the property within 28 days. Understandably, covering the full balance in less than a month is a big ask for most buyers. This is where short-term bridging finance comes in, helping to ‘bridge’ the gap until a longer term, buy-to-let or commercial loan can be secured.
Auction finance lending options are designed to offer flexibility as well as speed and efficiency, helping buyers to bid with confidence and complete the process quickly. Short-term auction finance bridging loans can usually be arranged in a matter of days.
Buy-to-let mortgages for auction properties
Are you looking to raise funds to rent out a property bought at auction? Maybe you have a current property you want to rent out? Whichever it is, there are a broad range of finance products to suit your requirements when buying-to-let.
Commercial auction mortgages
If you’re looking to purchase a property at auction for long term commercial use, we can help.
If you’re in business and are looking to expand your commercial property or invest in a new building, you’re probably considering a wide range of properties, looking for the best deals and opportunities. You might be looking into unconventional buildings or land to cut costs, or maybe you’ve got other considerations affecting your business choice. We understand this, we know how business works and that a lot of the time, things aren’t always straightforward.
We look at first and second charge commercial mortgages for a wide range of businesses, from the well-established to the start-up (with at least 12 months trading).
Is auction finance for you?
To find out more about the types of auction finance services we offer, get it contact today and speak to one of our experts.