Mortgagemove is a trading name of Nicholas Financial Ltd, an appointed representative of The Openwork Partnership, a trading style of Openwork Limited which is authorised and regulated by the Financial Conduct Authority. Some buy-to-let mortgages are not regulated by the Financial Conduct Authority. YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS OF YOUR MORTGAGE OR ANY OTHER DEBT SECURED AGAINST IT. It’s vitally important to set your budget and try to stick to it. On the day, you can bid in person, by proxy, or over the phone. This will give you a better idea of how much you should pay for the property. You don’t want to buy something and get a nasty surprise afterwards – and sales are not subject to survey – so it can also be prudent to involve a builder or architect at this stage too. If you see a property that interests you, Mortgagemove can help you in preparation for your bidding.īlock viewings will be arranged for specific dates and, as well as being your only opportunity to view the property, they are your best chance to get a building survey or valuation undertaken. Property auctioneers usually publish their catalogue in hard copy and online around a month prior to the auction date. You can still grab a bargain using standard or specialist mortgages, as well as bridging finance and commercial loans. It’s great to do it that way if you can, but many people can’t, and that is where we come in. People believe you can only buy at auction if you have full cash funds available. Can I use a mortgage for an auction purchase?
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