How can I get a loan/mortgage to buy a property at auction, fix it up and sell on for profit?

Posted on 23 July 2013 by Nigel


How and where can I get a loan/mortgage to buy a 2nd home at an auction, fix it up and sell shortly after for a profit?

Nigel,

You will typically be looking at a short term bridging or development facility. There are many such lenders who will look at this type of proposition, however you should get advice as there are some pitfalls to be aware of.

Auction sales can be a challenge in terms of timescales and unusual properties and I'd definitely recommend talking to one of our brokers, who will be able to guide you successfully through the process.

Let me know when would be the best time for you, and I'll arrange for one of them to contact you.

Regards,

Simon

simon.collins@johncharcol.co.uk

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