About to bid at auction or already won a lot?

bridging loan for farmhouseWhile Ravenwood would always recommend “doing your homework”, sometimes auction properties can come along where the prices are just too tempting.  You have to make a decision their and then.

At Ravenwood we are used to raising finance very quickly and we have save numerous people from being in default of their auction purchase.  One of the benefits of bridging loans is the money can be released to you very quickly.

Depending on the individual case, we can raise funding on the property being purchased or another property in your portfolio.

Even very difficult cases that may involve:

  • Residential properties with sitting tenants
  • No functional or missing kitchen and/or bathroom
  • Uninhabitable or property in very poor condition
  • Complex and un conventional lease hold property
  • Flying freehold property
  • Change of use scenario property
  • Semi Commercial property titles
  • Large Multi let or licenced/un licenced HMO
  • Property with modifications done without building regs or planning permission
  • Part completed properties or property developments where developer has gone bust
  • Developments without planning permission or with rejected planning applications
  • Fire damaged property

Some of the most lucrative opportunities can often be the ones that are risky and difficult.

Auction property finance – Bridging loans

Depending on your circumstances and time scales, it maybe possible to do a very quick re-mortgage on one of your existing properties to release equity but generally Bridging loans are the best option for people buying property at auction.

Check out property available at auction:

  1. http://www.rightmove.co.uk/property-for-sale/London/auction.html
  2. http://www.countrywidepropertyauctions.co.uk/
  3. http://auctions.savills.co.uk/
  4. http://www.barnardmarcusauctions.co.uk/

 

BBC feature: