Auction Bridging Loans
If you are a collector or property investor who frequently purchases investment properties and items at auction, Galaxy Finance’s auction bridging loans may appeal to you. Likewise, if you are in the market for any piece of equipment or personal property, these short term loans are a reliable source of emergency funding.
Any goods and properties bought at auction require a small amount to be paid as a deposit while you source the balance. If you buy auctioned properties and goods for resale, auction bridging loans essentially allow you to run a business with virtually no capital of your own.
You can literally roll the bridging loan between two investment properties, securing the loan against the same property and using part of your profits to liquidate it. Our auction bridging loans are mostly invested in land, buy-to-let properties, as well as residential and commercial properties. However, the loans can be used for the purchase of other assets not related to real estate.
Auction bridging loans can be approved for properties that can’t be occupied or rented out immediately. Where you can furnish us with plans for the property’s renovation and reasonable estimates of its value after the renovation as well as a solid exit strategy the loan can be approved. Bridging finance can even be released for property developers who buy commercial properties at aution with the plans to subdivide them into apartment units.
For this bridging finance product, we emphasize the value of the property and your plans for it over your source of income and your assets. Common exit strategies include the sale of the property and refinancing.
To boost your chances of securing funding, we urge all clients to first view the property with an experienced builder or contractor to determine its and investment potential and renovation cost. It is also prudent to obtain the legal pack from the auctioneers before bidding. The legal pack should include the title deeds and zoning information.
Generally, you need to do your homework and be sure of the viability of your project before applying for auction bridging finance. This will greatly improve your chances of securing the loan in time for the auction.
An Agile Funding Solution That’s Perfect For Auction Purchases
Are you a property investor? You likely already know that alternative auction funding solutions from traditional lenders lack the agility and quick deployment required for properties bought at auction. With investment properties going on auction all around you, you need a reliable bridging finance solution to ensure you aren’t missing out. Apply for your auction bridging loan today!
At Galaxy Finance we promote a personalized level of service where customers are served as individuals and not as clusters or groups. Each bridging loan application is reviewing on its own merits. This approach enables us to innovate creative financing solutions and to respond to customer needs flexibly and with speed.
Diligent, Well-Trained Team
Every member of the Galaxy Finance, from the sales agents, underwriters, to senior management is employed on merit. These are men and women who have undergone extensive training and have solid on-the-job experience. You can be reassured that all your bridging finance applications will be reviewed with competence and without favour or prejudice.
The Galaxy Finance team is drawn from diverse backgrounds, each individual bringing their own unique competencies and experience. The result are bridging finance products that appeal to a broad range of financing needs. Our commitment to maintaining a diverse and inclusive culture at the workplace extends to our customer focus where we aim to be a short term lender of choice for people from all social classes and cultures.