Short-term auction finance.
- Completions in as little as 24 hours
- No lender legal fees
- Desktop valuations
Get a decision in principle or enquire
Max loan-to-value
75% LTV
Monthly rates from
0.79%
Loans ranging from
£26k - £5m
Lending decisions are based on lending criteria and, where applicable, subject to credit check and an assessment of individual circumstances.
Ready to talk to us?
How auction finance works.
Auction finance is designed with speed and flexibility in mind – which is exactly what’s needed when auction completion timescales are tight (often within 28 days or less).
Whether it’s an investment in residential, semi-commercial or commercial properties, we’ll work to make sure you get the funding you need.
Any fees will be added to what you’ve borrowed, and you’ll have up to 12 months to repay the loan in a lump sum – whether that be by arranging longer-term finance, selling the property, or realising other funds. And, until that happens, you’ll only make interest payments each month.
Looking for more information? Find it here:
Auction finance in eight easy steps.
Your step-by-step guide to securing finance for auction purchases…
Step 1: Find a property.
Work with one of our trusted partners to find your ideal property.
Step 2: Complete pre-approval.
Get a Decision in Principle (DIP) with us. At this stage, only a soft credit check is conducted.
For investment properties, apply directly online – and don’t hesitate to get in touch with our team on 0161 933 7155, should you need any support.
Step 3: Secure the property at auction.
Under the hammer! Once you’ve won the auction, you pay the deposit.
Step 4: Notify us.
Let us know you’ve secured the property by calling 0161 933 7155. We’re here to help.
Step 5: Submit your application.
We’ll take care of the mortgage application process. At this stage, you provide your documents, including proof of income and solicitor details.
Step 6: Solicitor instruction.
We’ll instruct your solicitor to begin the legal process.
Step 7: Receive documentation.
Your solicitor sends the required legal documentation to us.
Step 8: Funding released.
When everything is in place, you’re done! We’ll release the funding, and you’ll be ready to complete your purchase.
Prepare for auction with our top tips
Common questions about short-term auction finance
How much could you lend to me?
The amount we will lend as auction finance ranges from £26k - £5m, with the amount borrowed being worth no more than 75% of the property purchase price. The exact amount you can borrow depends on the your situation and value of the property(ies) you're using as security, so please contact us to discuss your individual situation.
How quickly could I borrow?
We know that time is often of the essence when you're looking to purchase at auction. That's why we pride ourselves on the way we empower our team to make decisions and give you the fastest possible answer when you need it the most.
The speed at which we can lend will depend on your specific situation, as well as how quickly the other parts of the chain can move, but you'll see from our case studies that we're no strangers to turning things around in as little as 36 hours when it counts.
What fees will I pay?
At the auction itself, you may have to pay an administration charge to the auction house, and something called a 'buyer's premium'. All of this should be outlined in the auction catalogue so you know before you bid.
In terms of our 12 months auction finance, we charge a Lenders Arrangement Fee, and – depending on the loan you take – you may have to pay an Exit Fee if you repay the loan before the end of the term.
We charge a Redemption Administration Fee when you 'redeem' (i.e. fully repay) your loan, to cover costs associated with closing your account and dispensing our legal claim to your property.
There may also be Legal fees, although we charge no Legal fees in many instances where you're buying residential property at auction.
All of these fees can vary, so we'll ensure that the fees that apply to your particular loan are clearly explained before you sign on the dotted line.
Other fees and charges may be applied to your account during the life of your loan, in relation to the management of your account (for instance, if you fall behind on your monthly payments). These are all explained in our Tariff of Charges.
I've been rejected for auction finance elsewhere. Will you be able to lend to me?
It's possible. We look at you as much more than just a credit score. If the sums show you can afford the property, we do our best to make it happen. To discuss your exact situation and to talk in more detail with no obligation, get in touch.
Why auction finance, instead of getting a mortgage on an auction property?
Often you can get a mortgage on an auction property, but you have to complete your auction purchase within 28 days (at most) – and that's sooner than most mortgages can be arranged. That's why auction finance exists – to bridge the gap between your completion deadline, and your mortgage being granted.
If you do decide that you would prefer a mortgage, depending on the property you wish to buy, you may need a personal mortgage (if you're buying a home to live in), a buy-to-let mortgage (if you're buying a house to rent out), or a commercial mortgage (if you're buying a business premises or land).
We offer all of these, and often help people refinance their auction purchases with the longer-term borrowing they need.
Get pre-approved
Get a decision in principle• No impact on your credit score
• Apply anytime, even during auction
All mortgages are subject to our terms and conditions.
Loans offered by Together Commercial Finance Limited are not regulated by the Financial Conduct Authority.