Property Auction Finance for Expats
Auctions move fast. You win the lot, the hammer falls, and you’ve typically got 28 days to complete before you lose your deposit and the property both. A standard mortgage application, expat or otherwise, almost never moves at that speed – valuations, underwriting and legal work simply take longer than 28 days.
Auction finance exists to bridge exactly that gap, and we’ve arranged it for expat buyers since 2008, alongside the standard mortgage that follows once the pressure’s off.
How the timeline actually works
- You bid and win at auction, putting down your deposit (usually 10%) immediately
- Auction finance is arranged in the days that follow, fast enough to complete within the 28-day window
- Once you legally own the property, we help you refinance onto a standard residential or buy-to-let mortgage at more typical long-term rates
The rate on the auction finance itself is higher than a standard mortgage – that’s the cost of speed – but it’s a short-term bridge, not the mortgage you’ll be living with for years.
What kind of properties this suits
Auction finance particularly comes into its own for properties a standard mortgage lender wouldn’t touch in their current state – no working kitchen or bathroom, structural issues, or anything that would fail a typical valuation. Buy at auction, use short-term finance to complete, do the work, then refinance once the property is in a lendable condition. If your project is closer to building a home from scratch than renovating an existing one, our Self Build Mortgage Finance page covers that route instead.
Our fees
£295 application fee, 1% completion fee on the eventual refinance; auction finance itself is priced separately by the bridging lender.
Frequently Asked Questions
How quickly can auction finance actually be arranged?
With everything moving in parallel, completion within the standard 28-day auction window is realistic, though the earlier you talk to us before bidding, the smoother it goes.
Can I get auction finance before I’ve even won the lot?
Yes – getting finance agreed in principle before you bid means you know your limit and can move immediately once you’ve won.
What happens if I can’t complete within 28 days?
You risk losing your deposit and potentially facing further costs from the auction house, which is exactly why speed matters here.
Do I need to already know what I’ll refinance onto afterwards?
Not at the point of bidding, but we’ll want to understand your likely exit route before arranging the initial finance.
Is this available for unmortgageable properties specifically?
Yes, that’s actually one of the more common uses – properties that need work before a standard mortgage lender will consider them.
Get in touch as early as possible, ideally before you bid, so finance is genuinely ready the moment the hammer falls.
