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Buying property at auction means speed is everything — you typically have just 28 days to complete. Having your finance in place quickly can mean the difference between securing a bargain or losing your deposit.
In this guide, we’ll break down exactly how to get auction finance fast, what lenders look for, and how to make your application bulletproof.
Before you even step into the auction room (or register online), speak to a specialist auction finance broker. They’ll help you secure a Decision in Principle (DIP), showing how much you can borrow and on what terms.
Lenders offering auction finance often work to short turnaround times — some can issue terms within 24 hours when all documents are ready.
Delays usually come from missing paperwork. Make sure you have the following ready:
Having these up front allows the lender to move instantly once your bid is accepted.
Auction finance is short-term by design, typically 6–12 months. Lenders will want to see how you’ll repay it. Common exits include:
Some lenders simply can’t move fast enough for auction timelines. Choose those that specialise in auction bridging finance, as they understand the time pressure.
Specialist lenders like Together, Precise Mortgages, or LendInvest often pre-underwrite cases before the auction date.
If the property is unmortgageable (no kitchen, bathroom, or serious structural issues), don’t panic — many auction finance lenders are comfortable with this. They focus on the property’s resale or refurbishment value rather than its current state.
Be honest about the condition and have quotes ready if you plan to improve it.
Even the best finance offer can fall apart if your solicitor doesn’t act fast. Always use a solicitor experienced in auction completions — ideally recommended by your broker. They’ll liaise directly with the lender’s legal team to meet the 28-day deadline.
Following these steps puts you ahead of 90% of auction buyers scrambling after the hammer falls.
Investor bought a 2-bed terrace in Manchester for £110,000 at auction.
He had a Decision in Principle ready with a 70% LTV lender.
All docs were pre-checked, so the lender released funds in 7 days.
After light refurbishment, the property was refinanced onto a buy-to-let mortgage within 4 months.
Client won a semi-derelict property in Bristol for £95,000.
No kitchen or bathroom meant mainstream lenders wouldn’t touch it.
Auction Finance UK secured a bridging facility within 10 days.
After refurb (£20,000 spend), the client refinanced at £165,000 — exiting the loan in 6 months.
Small developer bought a block of 3 flats in Leeds at auction.
Used a 9-month auction finance facility to refurbish and sell individually.
All units sold within 8 months, clearing finance and yielding £58,000 profit.
Some lenders can release funds within 5–10 working days if all documents are ready.
Not always. First-time buyers can qualify if the deal and exit strategy make sense.
Yes — many auction finance lenders fund “unmortgageable” properties needing renovation.
Typically 6–12 months, though some lenders offer up to 18 months for larger projects.
Usually 25–30% of the purchase price, though this can vary depending on the lender and risk profile.
Speak to our team today and get a same-day Decision in Principle.
(C) 2025 Auction Finance is a trading name of Mortgage Knight Ltd