Aimee Summers

Property auctions can offer exciting opportunities for buyers. It is not uncommon to find properties selling below market value, properties with development potential or opportunities that may not be available through traditional estate agency channels. However, buying at auction is very different from purchasing a property through the usual conveyancing process. Once the hammer falls, buyers are legally committed to the purchase and must complete within a strict timeframe.

Bridging finance has become increasingly popular in recent years, particularly in competitive property markets and among buyers purchasing at auction. However, while bridging loans can be extremely useful, they are not suitable for every situation and come with additional costs, risks, and legal requirements that buyers should fully understand before proceeding.