What are the three most important elements of a successful auction purchase bridging deal?
- Speed
- Certainty
- Speed again
UTB was approached with this £1.28m regulated bridging deal after the borrowers had committed to buy their next home at auction with a 28-day completion deadline. UTB completed the deal in 12 working days, giving the customer the speed and certainty they needed.
| Borrower | Personal borrower |
| Loan Amount | £1.28m inc. rolled up interest and charges |
| LTV | 74% |
| Term | 12 months |
| Location | London |
| Loan Purpose | Bridge to purchase new main residence at auction |
| Special Feature | App to completion in 12 working days AVM used & includes funds to settle existing first charge on security property |