Our Customers rate us 4.6 out of 5
Trusted auction finance advisors.
Buying a property at auction? Talk to our team of specialist auction finance solicitors today and we’ll help you access the fast funds you need to proceed.
Your home may be repossessed if you do not keep up repayments on your mortgage. When The Bank Says No is a mortgage broker, and not a lender.
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Bridging Finance Brokers
When you need to bridge a gap in your finances, we are there to find suitable finance options for you.
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Bad Credit Mortgages
When your credit record isn’t the best and you’re struggling to find a lender, we can step in so you don’t miss out on your dream home.
Buy-To-Let
Need help navigating buy-to-let mortgages? With our help we’ll make it easier than you think, even if you have bad credit.
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Remortgaging
Remortgaging doesn’t have to be tricky, whether you are looking to remortgage to consolidate debt, buy another property or finance home improvements.
What is auction finance?
Auction finance is used for buying properties at auction, and is similar to bridging finance. Fast to arrange and access funds, it allows people to purchase properties at auction without being cash buyers. If you’re considering applying for auction finance and want to understand the options, get in touch with a member of our friendly team of advisors! We’ve helped property investors and homebuyers all over the UK get the funds they need, when they need them.
Helping you act fast.
Your dream property has appeared at auction. It’s got limitless potential, and you know it’s meant to be yours, but you’re worried it’s going to slip away! Don’t worry; auction finance is a short term lending solution that helps non-cash buyers access the finance they need to bid and buy their auction property. We’ll work proactively, seeking out the right lender, and helping you sort out all the nitty-gritty details within your timescale. We get to work fast.
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We can support you and help you to make yourself as attractive to banks as possible, ready for your next application!
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In order for us to assess your credit history and suitability for different mortgage products, you will need to check your file.
Understanding Auction Finance for Property Purchase
Auction finance is intended to provide you with the funds you need buy a property at auction. It can be arranged within a couple of days, enabling anyone to move fast on an auction property deal, and attain their future property. If you’re thinking of buying a property at auction, but don’t know what your options for finance are, don’t worry! Our team of expert short term finance advisors are here to explain everything you need to know, and help you identify the right product and lender for you.
I’m not a cash buyer. Can I still buy at auction?
Yes, you can definitely still by at auction without being a cash buyer – that’s what auction finance is there for! The only thing to note about proceeding with auction finance is that you will need to provide a deposit for most auction purchases on the day of the auction. If you don’t have a deposit, you could consider borrowing against other property assets to amass the right amount. Traditional mortgages can also be used to purchase at auction, however you need to make sure the lender you choose is capable of acting quickly as auctions necessarily come with time constraints. It is for this reason that auction finance is the most preferable option.
Turning Your Nightmares Into Dreams
When you think you’ve hit that brick wall and have all but given up hope of finding mortgage finance, When the Bank Says No are here to turn your ‘No’ into a ‘Yes’. We have access to a range of specialist lenders who are willing to help those that the High Street banks just won’t touch. Get in touch today and see how we can turn your dreams into a reality.
What types of properties can I buy at auction?
The types of properties for sale via auctions vary, but often something about them will make the unsuitable for the open market. It may be that they need to be sold quickly, they are hard to value, have failed to sell on the open market, or they have a unique quality through which the seller wants to encourage competition. As a result of the varied nature of property auctions, auction finance can be used to purchase a wide range of properties including residential, commercial, unmortgageable, houses of multiple occupancy (HMOs), land and agricultural properties.
My property is uninhabitable. Can I get auction finance for it?
Yes, auction finance can also be used as a short term lending solution to allow you to get a property into a mortgageable condition that you wouldn’t be able to get a standard mortgage on. You could also consider bridging finance in this situation. For more guidance and to make sure you fully understand the options available to you, contact our expert short term finance team!
Frequently Asked Questions
How much deposit will I need to purchase at auction?
Expert advice for auction finance.
When the Bank Says No has enabled everyone from property investors to developers to individual buyers to purchase the auction property of their dreams. We specialise in helping our clients navigate the auction finance process, and proceed with their future plans backed up by solid advice and highly accurate information. If you’re ready to get started and take to the auction with your best foot forwards, our friendly team are ready to stand by your side every step of the way!
What Our customers say about us
Our Customers rank us 4.6 out of 5
We feel so fortunate to have found WTBSN
We found WTBSN after landing in a really tricky situation. We were out of term on our current mortgage and our existing broker had exhausted all options to re-mortgage due to the complex nature of our holiday let property (Grade II listed, timber frame construction and above commercial). Working under considerable time pressure due to the financial penalties being imposed by the existing lender, Brian was relentless in his search for a solution that would allow us to refinance a property that was on face value mortgageable. Thankfully, he didn’t give up and nine months later, we completed on the re-finance. We feel so fortunate to have found WTBSN and would like to thank Brian and the team sincerely for going the extra mile. We couldn’t have done it without you!
Rachel Reeves
Simply the best
I will never use another mortgage broker in all my time In property, these guys are the best at communication, customer service and keeping you informed. They are a level above every other broker I’ve come across and they actually get things done.
Emma, Samantha & Ashley have been fantastic in assisting me with 2 mortgages now and they’re superb at what they do. I wouldn’t hesitate to reccommend them to anybody out there who needs a mortgage sorting.
John Burton
I have been dealing with ben
I have been dealing with Ben @ When The Bank Says No. He has been great!! Professional, kept us up to date the whole way and made the entire process so simple. I would most definitely use him again and have already passed his details on to a family member. Thank you for all your help.
Elise
Thank you for your amazing support
Thank you for your amazing support and service during a really difficult time in my life. 5* is just not enough to demonstrate the level of support received. These guys go above and beyond. A personal service, with kindness and compassion. I highly recommend. If you’re struggling with your mortgage, then have a chat to this team. I cannot thank them enough for everything they have done.
Nabila Fowles-Gutierrez
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