Auction Finance Repayments
With our online auction finance calculator it is easier and swifter than ever for approximating the cost of auction properties finance loans and bridging loans. Urgent deadlines need to be met, we can facilitate it for you.
Auction Finance Calculation
Your Finance Costs:
Total Security Value: £400,000.00
Gross Loan: £103,008.00
Gross LTV: 25.75%
Interest Rate: 0.84%
Breakdown
Arrangement Fee (2%): £2,000.00
Broker Fee (1%): £1,000.00
Total Interest: £10,080.00
Net Loan: £100,000.00
Legal Fees: £750.00
Valuation Fees: £380.00
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Auction Finance Quotes
Before submitting your bid on any property in the auction, it is always prudent to check if the math does work. Our Auction Bridging Finance Calculator will be able to tell you how much the borrowings will cost you, and you will be able to afford it before submitting your bid or exchange contract.
Auction finance is always a mechanism of short-term finance. With the aid of a calculator tool, the buyer/investor or the developer is able to calculate the repayment and the amount borrowed in the case of an auction bridging loan.
Things you’ll need to qualify
- Minimum loan values from £25,000
- Loan to value up to 70% of value of property
- Individual or company residing in UK
- A clear exit strategy (sale or refinance)
- Suitable residential or commercial property security
- Documentation such as ID & property information.
Auction finance can be of benefit in
- Buying parties interested in property at an auction
- Quick auction finance to complete time constraints
- Developers buying to renovate or resell properties
- Auction bridging finance for landlords to increase holdings
- Needing short-term financing prior to a refinance
Calculating your funding ask
- You must enter the property value, amount borrowed against the property, finance term or finance product term in months, and also an approximate finance charge rate. The results of this calculation will give you an approximate amount to repay each month.
- As a start, our property auction bridging loan calculator will be of great importance in preparing budgets. For the calculation and confirmation of eligibility, it is recommended that one contacts our lending specialists.
