Finance beyond the high street….
Need bridging finance to save an auction purchase?
When purchasing a property at auction, there are several risks. One of those risks is not being able to fund the purchase in full before the deadline.
When the hammer falls, a 10% deposit is needed. Whether a bridging loan is required to fund the deposit, or in the case of one of our clients, finance was needed to bridge the gap between the sale of their property and paying the remaining balance on the auction purchase.
They still needed the rest of the balance to be paid within 28 days, and the sale of their current property for £625k was still going through but would not complete in time to meet the auction deadline. They still needed to raise £240k, with the rest of the balance being funded by family.
Click here to read the case study in full and how we helped secure finance in just 7 days!
To find out more, please drop contact us on 020 8731 5333.
The Enterprise Finance Team
E: sales@enterprisefinance.co.uk
T: 020 8731 5333
W: www.enterprisefinance.co.uk
