Property auctions can be one of the fastest ways to secure an investment opportunity, but they also come with a lot of myths that hold buyers back. Let’s clear a few up:
Myth 1: “I need to have all the cash upfront.”
Reality: You don’t. Most auction purchases are completed using short‑term finance. At the fall of the hammer, you only need the 10% deposit. The remaining 90% must be completed within 28 days (sometimes 20 or even 14 depending on the auction house). Bridging loans are designed exactly for this purpose – fast, flexible funding so you can secure the property first and arrange your long‑term finance later.
Myth 2: “Bridging takes too long.”
Reality: Not true. When planned properly, bridging can be arranged quickly and smoothly. The key is preparation, having your lender engaged before auction day makes all the difference.
Myth 3: “It’s too complicated.”
Reality: Not with the right support. We guide you through each step, from initial conversations, to reviewing the auction legal pack, through to completion. The process becomes straightforward when you know what to expect.
When should you get in touch with us?
At least one week before the auction. But honestly – the earlier, the better.
The more notice we have, the more we can:
- Review the deal and the property’s condition
- Line up terms so funding is ready if you win
- Give you confidence to bid without hesitation
Last‑minute finance is possible, but early preparation is what gives you real certainty.