Insights

Key Takeaways • Auction finance is usually a bridging loan that lets you pay the deposit and complete within the auction deadline, often 28 days. • Arrange finance before you bid, because a standard mortgage rarely meets auction timetables or covers unmortgageable lots. • Read the legal pack and special conditions first, and set a firm maximum bid. • Plan a clear exit, either sale or refinance, plus a back up option. • BEMS in Ilford arranges auc

Key Takeaways • A bridging loan is short term finance secured on property, usually lasting up to around 24 months. • It works in five stages: explain the deal and exit, agreement in principle, valuation and legal work, drawdown, then repayment. • Lenders judge the property and your exit strategy more heavily than your income. • Always plan a back up exit, because a sale or refinance can take longer than expected. • BEMS in Ilford arranges b

Vacant and under-used office space, retail units and other commercial premises are a familiar sight across Ilford, Barking and Romford high streets, and a growing number of East London developers and investors are converting these buildings into residential units under permitted development rights rather than pursuing full planning permission. The Class MA permitted development right allows a wide range of commercial buildings to be converted to residential use through a fast