Securing Auction Finance Through Best Bridging Loans  

Client Background 
James, an experienced property investor from Bristol, spotted a rare opportunity at a property auction. A Victorian terrace in need of refurbishment. The guide price was £165,000, and he anticipated a post-renovation value of £240,000. However, as with most auction purchases, he needed to complete the sale within 28 days. His traditional bank couldn’t move fast enough, and James needed a bridging loan to meet the tight completion deadline. 

The Challenge 
Auction purchases require speed, certainty, and flexibility. James had a 10% deposit ready but lacked the remaining 90% to complete the transaction. With limited time and an uninhabitable property, high-street lenders wouldn’t offer finance. He needed a fast bridging loan that could be approved, funded, and completed before the auction completion date. 

The Solution 
James contacted Best Bridging Loans, a specialist broker renowned for sourcing quick and competitive bridging finance. Within hours of submitting details, Best Bridging Loans arranged an agreement in principle from one of their trusted lenders. 

The loan terms were: 

• Loan amount: £148,500 (90% of the purchase price) 

• Term: 9 months 

• Interest rate: 0.79% per month 

• Exit strategy: refinance onto a buy-to-let mortgage after renovation 

Best Bridging Loans coordinated directly with solicitors, valuers, and the lender to fast-track the process. The entire transaction was completed in just 10 working days, allowing James to meet the auction deadline with ease. 

The Outcome 
With funds secured, James completed the purchase and immediately began refurbishment. After 5 months, he refinanced with a mainstream buy-to-let lender at a higher valuation, repaid the bridging loan, and released additional equity for his next project. 

Client Testimonial 

“Best Bridging Loans made the impossible possible. Their expertise in auction finance saved my deal. I couldn’t have completed without their speed and efficiency.” 

SEO Summary: 
This case demonstrates how Best Bridging Loans help property investors secure fast bridging loans for auction purchases. Whether you need quick completion, flexible lending, or short-term property finance, their team sources the best bridging finance tailored to your needs.