Buying At Auction With — Mortgage

If you’re planning to bid, here is your essential roadmap: 1. Secure an Agreement in Principle (AIP)

You’ll need to pay 10% immediately on the day.

Lenders won't mortgage properties they deem "uninhabitable" (e.g., no working kitchen or bathroom). If you’re looking at a fixer-upper, a standard mortgage might be rejected, and you may need instead. 💡 Pro Tips for Auction Buyers: buying at auction with mortgage

This is an extra fee paid to the auctioneer on top of the purchase price.

Do not step into the auction room without an AIP. Because of the tight 28-day completion window, you need to know exactly what a lender is willing to give you before you raise your hand. 2. Consult a "Lending-Specific" Solicitor If you’re planning to bid, here is your

Buying with a mortgage is doable, but preparation is everything. If the bank stalls, you lose your deposit and the house.

Check for hidden fees or sitting tenants. If you’re looking at a fixer-upper, a standard

The short answer is , but it’s a high-speed race against the clock. Unlike a traditional sale, the hammer falling at an auction is a legally binding contract. You typically have only 28 days to provide the full balance.