Auction Finance: Developing Your Property Portfolio
Property has always been a great market to invest in. With all the variables affecting the British economy there is one constant – property prices will continue to rise. For developers, there is certainly a lot to gain from developing your property portfolio even further. However, with property prices generally set within six-figure sums, it can be quite a nerve-racking aspiration to set in motion. But regardless of whether you’re a newcomer or if you already have a burgeoning string of properties, Rangewell can source the ideal finance solution!
With the cost of properties being so high, it’s perfectly reasonable to assume you’ll need a helping hand. But before you go and pursue the first property that catches your eye, perhaps you should attend a local property auction?
Auctions are a great way to discover a proper bargain; you can gain exposure to a whole catalogue of properties, possibly below market value. You might find a true gem or maybe a property that’s fallen from grace? Whatever you’re aiming for, auction houses are the quintessential place for getting into the thick of the property industry. However, before you even consider attending an auction, you should consider Auction Finance.
Auction finance is an excellent finance solution that can streamline the transaction process and give you much-needed access to funds. This tailor made finance solution works by allowing you to acquire a conditional approval from a lender, outlining certain terms and conditions such as how much you can bid and the type of property they’ll fund. For example, if you’re bidding for a 4 bedroom property and made a successful bid of £350,000, a lender could fund up to 90% of the bid whilst you pay the initial deposit on the day of the auction.
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At Rangewell, we support a wide range of SME businesses of every shape and size, for finding every type of finance. Follow us on Twitter and LinkedIn for business tips and tricks, and feel free to call us on 0203 637 2340 if you’d like to chat about what we can do for you.