Auctions are a great way to acquire property competitively, with a wide range of bargains available under the hammer, but only if you know where to look.
But the launch of an expansive new portal which monitors virtually every auction house in the country means that auction buyers can now discover the best potential deals, often before they appear in auction catalogues.
Whether it is for residential, commercial or semi-commercial property, the new search facility provided by specialist lender Together, in conjunction with Essential Information Group (EIG), a property auction search engine, will undoubtedly appeal to investors looking to avoid the conventional drawn out process of buying property, as property offered at auction is sold in a matter of minutes as soon as the hammer falls.
David Sandeman, managing director of EIG, said: "As the leading search engine for property auctions in the UK, we are delighted to team up with specialist auction finance provider Together, which uses its common sense lending philosophy to provide fast finance for people looking to buy at auction.
"The facility on Together’s new website will help auction buyers find the best deals quickly, saving time on searching through auction catalogues.
“They will then be able to find funding for their next auction property, with decisions available within hours so that customers can bid with confidence.”
There is also a new finance calculator on Together’s website to help bidders work out what they can afford when they get into the auction room.
Prospective customers can simply enter the value of the property or land they are looking to purchase and the amount they are looking to borrow. Alongside this, buyers will find a host of helpful hints and tips, as well as case studies that show just how auction finance works.
Chris Baguley, commercial director for Together, commented: “Buying at auction is different from the traditional property purchase process, and that’s why we’ve decided to launch our dedicated auction finance web pages to help customers understand the whole process, from start to finish.
“These include a host of information for auction buyers; whether they’re new to the auction world or seasoned property investors, as well as simple steps on securing the funding needed to meet the tight auction house deadlines, which are usually just 28 days, or even less, to complete the purchase.
“We’re delighted to have formed an exclusive partnership with EIG to link their auction property search engine to our new pages, as it means customers will be able to search thousands of properties to find the one they want, then we can quickly get to work putting the funding in place.
“Of course, we’ll still have our auction team on hand at over 300 property auctions each year, to provide a personal service and answer questions, but it’s important that our digital presence now reflects our standing as one of the UK’s leading providers of specialist auction finance.”