Specialist Mortgages

Auction Finance

Buying property at auction can be an exciting and nerve-wracking experience. Once the gavel goes down and your bid is successful, you are committed to buying the property. You will usually have to pay a non-refundable deposit of 10 per cent of the purchase price on the day of the auction, with 28 days until the balance is due. Traditional bank funding is usually unsuitable because of this tight timeframe. SPF has experience in arranging finance for buying at auction, knows which lenders to approach and can move quickly to secure the right funding for your circumstances.

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SPF Private Clients are experts in helping people achieve their goals by providing the right funding, wealth management and insurance advice.

Your home may be repossessed if you do not keep up repayments on your mortgage.

A fee of up to 1% of the loan amount is payable. For example, if we arrange a loan of £100,000 the fee could be £1,000. The exact fee charged will depend on the amount of work undertaken.