Types of loans

Auction Finance

Completion in days, not weeks
South West, South Coast England and South Wales
  • 48 hours

    decision time

  • 3 to 36 mths

    loan period

  • £100K to £5m

    borrow amount

  • From 0.75%

    monthly interest

  • Up to 70%

    loan to value

  • 1%

    commitment fee

Auction Finance explained

Before bidding in an auction, you will need to ensure you funds available if your bid is accepted. If you are bidding, it is up to you to ensure you have an accurate idea of what you are buying, so be clear about the facts of the property or land which is for sale. A committed auction finance loan can give you the certainty of funds.

If you are going to bid at an auction, arrange the mortgage before the auction. You will need funds on the day to pay for the deposit and then the funds to pay the balance for the property a few weeks after.

If your auction bid is successful, you exchange contracts and pay a 10% deposit straight after the auction finishes. You then have a certain time period within which to complete. Sometimes, you don’t have to exchange contracts immediately. Instead, you pay a fee to reserve the property, which is non-refundable if you pull out of the purchase and then you have 56 days after the auction date to exchange contracts and complete the purchase.

Make certain you have the auction mortgage in place before bidding and remember, once the gavel falls there is no going back!

If you live in the South West or South Coast of England or South Wales, Bricks Finance can provide you with auction finance which you can replace with a longer-term mortgage once the process is complete.

See our success stories

Bricks Borrower + Bricks Broker = Success

When Geoff and Hazel Bardsley needed a top-up loan to finish their ‘grand designs’ dream home they asked Bricks Finance for help. “We needed to…

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Seven Luxury Homes, Newton Abbot

Local tradesmen Sam and Simon started their careers in the building industry and, like many others, did the odd bit of private work for friends…

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Tiverton Castle, Rental Portfolio

Angus and Alison Gordon, a local couple who own and live in Tiverton Castle, came to Bricks when they wanted to upgrade and enlarge their student let portfolio.…

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Forest Eco Homes, Cornwall

When the man behind an idyllic forest holiday development was struggling to borrow to finance his plan, assistance from Bricks Finance proved to be a…

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Two New Homes in Exeter City Centre

Dave Haines and David Chard were experts in building other people’s properties. Their building company has a long-established track record of delivering excellent projects for…

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New Homes in Somerset

Jon Evennett, a housebuilder for the past 16 years in the South West, describes his initial contact with Bricks Finance to discuss lending for his…

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46 New Homes for Exeter

Seeking to build a development of 46 flats on the site of a former care home on a complicated site in a busy corner of…

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Rose & Crown Pub, Dorset

It’s a dream for many people to own their local pub, but it’s not a simple process to buy a freehold. However, thanks to the…

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Beach House, Cornwall

Building a dream home is a passion for many, but for Russ Wood it almost feels like his destiny. And thanks to the help of…

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Retirement Village, Bristol

Audley Redwood is a retirement village set within 15 acres of landscaped parkland only a short drive from the centre of Bristol. It comprises 106…

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National Dive and Activity Centre, Monmouthshire

After serving 20 years in the British Army, REME, Darren Bryce MBE and his wife Kaye developed the National Dive and Activity Centre near Chepstow…

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School Conversion, Dawlish

A local architectural consultant who projects managed development in Teignmouth on behalf of a Bricks client has now started his own development in Dawlish with…

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3 Luxury Houses, Devon

Beverley Stone-Parker who has 30 years’ experience in construction, funded the land purchase and groundworks for a select development of four 5-bedroom homes herself. These…

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7 Holiday Homes, Cornwall

Having gained planning permission to convert their farm shop complex into holiday homes, father and daughter Dennis and Rhalina secured funding from Bricks in October…

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8 Apartments, North Devon

After 30 years of funding property developments through his bank, Paul Brinton, a director of East Devon Estates, was shocked when he was refused funding…

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Loan calculator

Amount you want to borrow

£50,000

£50,000

£5,000,000

Over how many months

3 months

3 Months

36 Months

Total you will pay

£1,500


Amount of interest over 3 months

This calculator is for illustrative purposes only.

We will always treat your personal details with the utmost care and will never sell them to other companies for marketing purposes. All information provided by you will be treated securely and confidentially. For more information view our privacy policy.

What our customers say

Thank you so much for everything you have done to help us secure this purchase. We are finally looking forward to a good night's sleep now!"

Stuart and Emma, Dream Home Purchase

Devon

Bridging Finance

This would not have been possible without your support and faith in us to deliver the project. Bricks Finance took the time to understand it. It has made an amazing difference to our lives."

Nick, Solar Energy Park

Somerset

Bridging Finance

This is our second deal and again we have achieved the first drawdown within 6 weeks from start to finish which is impressive!"

Richard, Finance Broker

Bristol

Equity Release Mortgage

Being able to purchase the site would not have been possible without the backing of Bricks."

Darren, Land Purchase

Monmouthshire

Bridging Finance

Bricks have given me the support I needed to do this. I couldn’t be happier to see it going up before my very eyes."

Russ, Beach House Development

Cornwall

Property Development Loan

Bricks have been amazing. Without them, I doubt we would have saved the pub for the village."

Becky and John, The Rose and Crown

Dorset

Refinance

When the guys from Bricks say they are going to back you they do, and it has been a real pleasure partnering with them on this project."

Matt, Property Development

Devon

Property Development Loan

I was really pleased with how quickly I had access to finance. I would recommend them to anyone looking to raise finance."

Jon, Property Development

Somerset

Property Development Loan

I’d really recommend Bricks Finance for anyone who needs to raise finance. They just allow you to get on and make things a success."

Dave and David, Property Development

Devon

Property Development Loan

I will be forever indebted to you all (thankfully no longer financially!) for taking a punt on somebody looking for a leg up in a new industry."

Alex, Forest Holiday Village Development

Cornwall

Land Finance

We found like-minded people who were prepared to take the time to understand our business and support our student accommodation in Exeter."

Angus & Alison, Landlords

Devon

Landlord Mortgage

I feel like Bricks is part of our team and wants a successful outcome for us as much as we want it."

Sam, Property Development

Devon

Property Development Loan

Having used Bricks myself, I now feel comfortable referring clients who have similar needs. The beauty of Bricks is their speed, flexibility and being FCA regulated so they can provide regulated and unregulated loans."

Geoff, Finance Broker

Somerset

Property Development Loan

Bricks are so easy to deal with; they get involved and take an interest in the project all the way to completion."

David, Finance Broker

Cornwall

Bridging Finance

Frequently asked questions

Is the whole loan process managed online? If so, how can I apply?

Do you offer loans for pensioners?

Can I get a loan even if I am retired?

How long does it take to arrange a loan?

Do you offer short term and long term loans?

What’s the maximum amount of money I can borrow?

Contact us

Speak to us directly

We’d love to hear from you. Whatever your enquiry give us a ring or send us an email and we’ll respond as soon as possible.

Bricks Finance Ltd

Winslade Park

Manor Drive

Exeter, EX5 1FY

United Kingdom

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