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Auction Purchase Bridging Finance Success
Secured bridging finance for an auction purchase of a Birmingham HMO with 7-day completion.
Key Metrics
£240,000
Loan Amount
0.65% monthly
Interest Rate
7 days
Time to Complete
5
Bedrooms
75%
LTV
Birmingham
Location
£240,000
Loan Amount
0.65% monthly
Interest Rate
7 days
Time to Complete
5
Bedrooms
75%
LTV
Birmingham
Location
The Challenge
Rachel won an auction property requiring completion within 28 days. Traditional mortgages couldn't complete in time, requiring bridging finance.
Our Solution
We arranged bridging finance within 7 days of the auction, with a clear exit strategy to long-term HMO mortgage once the property was tenanted.
Testimonial
"Without bridging finance, we'd have lost the auction purchase. The speed of completion was incredible and the exit to long-term finance worked perfectly."
RA
Rachel Adams
Property Investor