Why Auction Finance?
Auction Finance is a short term loan, used for purchases at auction houses. The reason this is so well suited to the auction houses is the efficient turnaround times which often fit neatly into the purchasing timescales.
In order to qualify for Auction Finance, you typically have 28 days to complete once a 10% deposit has been paid. So, true to our initial evaluation of the loan type, time is of the essence. We pride ourselves on having some of the fastest turnaround times in the business, across multiple finance categories.
Whether you’re buying with the intention of refurbishing a property to then sell on or to rent as part of a rental portfolio we can certainly assist you regardless of the condition of the property. Many landlords purchase properties using auction finance because a buy to let mortgages always take much longer to arrange. They then look to refinance at a later stage. Most lenders would prefer landlords to have owned a property for at least six months before they would consider refinancing but in most instances, our team will be able to find a solution that allows for the refinance options within 6 months of purchase or renovation.
Offices, shops, pubs, leisure centres, restaurants, industrial units, warehouses – if the property is commercial, we can offer finance options on it. Whether you’re an investor or business owner we can support you in financing your commercial property in a timely manner. This way, you’ll be able to make profitable business transactions without cashflow becoming an issue. As previously stated, we expect to complete within 28 days of receiving a deposit so time really is not something you need to worry about when securing auction finance with Cavendish Capital.
Work/Live Properties, Shops with Flats above & Offices with Flats above would all qualify as ‘mixed use’ property. We can help source the best auction finance lenders and rates for mixed-use property across the board & can work alongside you to strike a deal that’s best for all parties.
Land yourself the best deal with Cavendish Capital… We pride ourselves on being able to offer auction finance on land where other lenders might not. If additional security can be provided, we’ll be able to underwrite a finance package that is best for you.