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Auction Hammer

Auction Mortgages

Property auctions offer exciting opportunities for both buyers and sellers. There are two primary types of property auctions: traditional auctions and estate agent closed auctions.

Traditional Auction:

  • In a traditional auction, properties are sold to the highest bidder.

  • Bidding is open, competitive, and typically held in public.

  • Winning bids are legally binding, and you'll need to complete the purchase quickly.


Estate Agent Closed Auction:

  • Closed auctions are invitation-only events, usually organised by estate agents.

  • These auctions are more discreet and don't involve public bidding.

  • Winning bids are also legally binding, and completion is swift.


Types of Auction Mortgages/Finance:

  1. Bridging Loans:

    • Bridging loans are short-term loans designed to bridge the gap between buying a property at auction and securing a more permanent financing solution.

    • They are ideal for those who need immediate funding to secure a property at auction.

  2. Auction Mortgages:

    • Auction mortgages are longer-term mortgage products designed for properties purchased at auction.

    • They provide more stability after the initial purchase and often have lower interest rates compared to bridging loans.


Why Choose Mortgage321?

Navigating the auction property market can be complex and time-sensitive. That's where Mortgage321 comes in:

  • Speed: Auctions demand fast decisions and even faster financing. We specialise in expediting mortgage processes, ensuring you meet tight deadlines.

  • Expertise: Our experienced mortgage advisors understand the intricacies of auction purchases, guiding you through the entire process.

  • Lender Connections: We have access to lenders who are experienced in auction property financing, often with competitive rates.

  • Tailored Solutions: We create customised mortgage solutions that align with your unique needs and financial goals.


Ready to Secure Your Winning Bid?

Contact Mortgage321 today for expert advice and tailored auction property financing. Don't let the opportunity slip through your fingers – secure your dream property through auction with our assistance.

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