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Bridging Loan for Auction Purchase: Fast-Track Finance with No Valuation or Legal Fees
At Positive Commercial Finance, we specialise in bridging loans for auction purchases where speed and flexibility are critical. This case study highlights how we delivered a fast, cost-effective solution for a first-time property investor.
The Challenge
The client placed the winning bid on a residential refurbishment property at auction. He initially believed he had 28 days to complete, but quickly discovered the deadline was only 21 days. This tight timeline required urgent prioritisation from solicitors and a lender capable of fast-tracking the deal.As a recent business seller entering property investment for the first time, the client had no prior property track record — another potential hurdle for many lenders.
Our Solution
Thanks to our strong lender relationships, we fast-tracked the application to meet the revised 21-day completion. We presented an auction finance product that perfectly matched the client’s needs:
- No valuation required
- Free legal fees (lender’s solicitor)
- Highly competitive interest rate
The lender fast-tracked the whole process, aligning with the already programmed solicitor completion date.
Deal Structure
- Loan to Value (LTV): 70%
- Interest Rate: 0.49% per month (interest retained for the full term)
- Arrangement Fee: 2%
- Exit Fee: 2%
- Term: 12 months
The Outcome
The client completed the auction purchase on time and secured excellent terms on his first bridging loan as a new property investor/developer. The combination of speed, no valuation, and free legals made this the ideal solution. Positive Commercial Finance once again delivered specialist bridging finance under pressure.
Contact John Waddicker
Contact
John Waddicker On 07974 703375 or message here
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