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Auction Finance

This is a type of bridging finance that is available on properties bought through auction. Auction purchases are expected to complete very quickly, usually within 14-28 days, therefore at Advance Mortgages we will refer you to our specialist referral partners who race against time to ensure the process is sleek.

To speed up the process, it is a good idea if you could have the following when you call us:

  • Property details
  • A copy of the auction Sales Particulars
  • Narrative summary of your plans/ intentions for the property.
  • Explanation of how the Auction Finance will be repaid (usually via a sale or refinance).

Different Auction Finance Lenders have different criteria so other information may also be requested.

Bridging Finance

Time pressure and property deals go hand in hand – sometimes things just don’t go to plan. Bridging finance smooths the way, offering you peace of mind and a rapid fix to tide you over. This is a short-term finance available to ‘Bridge the Gap’, therefore the finance can be arranged very quickly unlike a standard mortgage. We have our referral partners who have exceptional experience in this matter and will not let you down.

Why bridge?

Property professionals use bridging loans for:

  • To raise finance quickly
  • To refurbish a property
  • To finish a development
  • To purchase at an auction
  • To purchase a property that would not secure a mortgage in its existing condition with a mainstream lender
  • To bridge a shortfall of funding between buying and selling property when a sale is delayed
  • To raise a deposit for purchasing property

Give us a call to arrange a quick fix.

Refurbishment/ Development Finance

Refurbishment finance is ideal for someone with an intention to refurbish with a budget below £250,000.

There are two types of Refurbishment:

  • Light refurbishment
    Light refurbishment is where no planning permission/building regulations are required and where there is no real change to the overall use/nature of the premises. Common light refurbishments would include new bathrooms, new kitchens, redecoration, rewiring, new windows etc.
  • Heavy refurbishment
    Heavy refurbishment is where there are structural changes to the property, and planning permission/building regulations are required.

Unlike standard mortgages, development finance loans are personalised bespoke financial solutions unique to you and your project.

Development Finance

Large scale development projects include a whole host of possibilities in the residential and commercial property spaces. As you can imagine, development finance lenders will ask many questions when assessing loan requirements of this size.

Our expert referral partners will  give you an in-depth understanding of the process, so they’ll look at the granular details of your proposal and put together a case that gives it the best chance of acceptance.

We will refer you to our specialist business partners to support you with your auction, bridging, refurbishment & development finance.