We are delighted to announce Velocity Bridging has completed another case, utilising our market-leading 90% auction finance product.
Finalised by our Commercial Manager, Matthew Gammond, the loan was required for a borrower looking to purchase a stunning character property in Knapwell, a beautiful village near Cambridge.
Our borrower secured the property at auction for £309,000 after a battle with four other bidders. He was introduced to Velocity by a valued introducer who knew we could deliver one of the highest day-one figures on the market and complete in the tight auction timeframe.
As per the terms of this product, we offered 90% of the gross loan with no exit fee and no formal valuation report, instead of relying on an AVM and site inspection. We even managed to build in a further £30,000 fund that the borrower could draw on for works if required.
There were questions raised by the property being grade 2 listed but we managed to deliver well before the deadline, as promised. This case is a prime example of how Velocity can complete cases quickly even when there are numerous complexities.
Are you looking to purchase property via auction? Our product offers 90% of the auction purchase price with no need for additional security.
Discuss your options further with Velocity Bridging on 01704 339588 so you can get a tailor-made loan directly for your purposes.