This creates a legally binding agreement between both parties. There is then a limited period of time to formerly 'complete' transferring what is more commonly a significant asset, for a large sum of money.
The auction conveyancing process is therefore condensed into a matter of days rather than months. For both buyer and seller, this speed can prove to be extremely advantageous; however, it should not diminish the significance of the transaction – there are many considerations for both parties.
Bridging loans, often associated with property, are a short-term lending option to help to ‘bridge’ the gap between your existing funds and the extra capital needed to make your purchase. This dynamic lending solution can be very useful as a short-term finance option when looking to purchase a property at auction and loans can be processed to meet typical 28-day turnaround periods.
Together Money have been delivering specialist finance for over 40 years. They understand that when it comes to auctions, speed is of the essence. So, they work quickly, and use our common sense. It means they can consider all sorts of circumstances, including those who are self-employed or retired. They will also consider any application from individuals, companies, trusts and pension schemes needing auction finance.