£1.6M Auction Bridging Loan Completed in Under Two Weeks

Client: UK Investor
Property Value: Approximately £2,300,000
Loan Amount: Circa £1,600,000
Loan Type: Auction Bridging Loan

The Scenario

A property investor approached Global Bridging Finance after successfully bidding for a mixed-use property at a London auction. The client required immediate funding to meet the auction deadline, which had a completion deadline of 28 days. Traditional finance routes would have taken too long, risking forfeiture of the deposit and loss of the property.

The Solution

Our team acted swiftly, securing indicative terms within 48 hours. The deal was structured as a first charge auction bridging loan at around 70% loan-to-value (LTV), covering the majority of the purchase price.

To meet the auction deadline, we worked closely with our panel of solicitors and valuation experts to accelerate the process. The lender was selected for their proven ability to act quickly on auction transactions, using desktop valuations and streamlined underwriting to save valuable time.

The Outcome

Funds were released in less than two weeks, giving the client ample time to meet the auction completion deadline. This solution ensured the client could secure the property without losing their deposit, while also providing a clear exit strategy via refinancing once the purchase was finalised.

This case demonstrates the importance of using experienced bridging finance specialists when navigating auction purchases, where time is critical and conventional funding routes are often impractical.