Home > Information > NLA Index

Funds for buying at auction

from "UK Landlord" magazine, November 2007

Lancashire Mortgage Corporation has launched a new company dedicated solely to providing funds for purchase at auction. The new company, Auction Finance Limited, will provide property investors with loans before, during or even after auction.

"The success of auctions is largely dependent on the rapid, often same-day, availability of funds from credible lenders who understand the special requirements of this market," explained Auction Finance's Operations Manager, Irene Thomas. "If purchasers are able to access funds or even increase their original funding line whilst at an auction, fewer lots will be withdrawn. This is good news for auctioneers, vendors and purchasers alike." The auction market is showing no sign of slow-down according to David Sandeman of The Essential Information Group, a property auction data provider.

Rugg Review:
The Independent Review of the Private Rented Sector has been published. See how it affects you.

What's new?
• Scottish landlords face huge fines over EPCs
• NLA review of 2008
• Iain Wright’s speech to the NLA National Conference
• A match made in heaven?
• 71% of landlords expecting increase in rental arrears
• NLA: buy-to-let landlords not covered by payment holiday plan