Won at Auction? Urgent Short Term Finance to Meet the Settlement Date
Settle the investment or commercial property you bought at auction, even when the bank is not ready
Experts in strategic, short-term finance
An auction contract is unconditional the moment the hammer falls. There is no finance clause and no cooling-off period, so if the bank is slow or reduces its loan, you still need to settle on the date in the contract. We can fund an auction purchase in as little as 24 hours.
We lend on investment and commercial property bought at auction across Australia. Our loans are for business and investment purposes only, so we cannot help with a home you plan to live in.
When auction buyers call us
- •You bid with a bank pre-approval, and the bank has since reduced or withdrawn it
- •The bank valuation came in below the price you paid
- •The contract has a short settlement, and the bank cannot finish in time
- •You plan to bid at a commercial auction and want your funds confirmed first
- •Your deposit came from savings, and the rest of your equity is in another property
Before you bid
If you plan to bid on an investment or commercial property, call us before auction day. We can review the property and your security and give you an indicative offer, so you know how much we can lend if the bank is slow. You can then bid knowing how you will settle.
What an auction loan covers
- •The balance of the purchase price at settlement
- •A shortfall where the bank has lent less than you expected
- •Stamp duty and settlement costs
From the auction to settlement
After the auction. Send us the signed contract and the settlement date. You receive an indicative offer within hours of the call.
Valuation. An in-house valuer inspects the property, usually within one day.
Letter of offer. Once you accept, the letter of offer is issued straight away.
Settlement. With the letter of offer signed, settlement can happen within 24 hours.
Documents we need after the auction
- •The signed auction contract and the settlement date
- •Your bank pre-approval, and any letter reducing or withdrawing it
- •Proof of the deposit you have paid
- •Any other property you could add as security
Loans for auction buyers
- •First mortgage: over the property you bought, to fund the purchase
- •Second mortgage: over another property you own, to cover a shortfall
- •Caveat loans: fast funding from equity in a property you already own
- •Bridging loans: to settle before you sell another property
Auction loan terms
| Loan feature | Detail |
|---|---|
| Loan size | $250,000 to $10,000,000 |
| Interest rate | From 9.7% p.a. (first mortgage), from 11.95% p.a. (second mortgage) |
| Term | 1 to 24 months, interest only |
| Maximum LVR | 70% of the lower of the assessed value and the price paid |
| Security | A first mortgage over the property you bought, with other property added if needed |
| Settlement | From 24 hours |
Refinancing after the auction
Most auction buyers refinance to a bank once the purchase has settled and the bank has finished its assessment. Some sell another property to repay us. We agree the plan before settlement, and the letter of offer explains the early repayment terms.
Tight settlements we have funded
“At an auction, the buyer commits to settle before the bank has finished its work. Most of the time that is fine, but when a bank reduces its loan afterwards, there is no finance clause to rely on. We fund investment and commercial auction purchases quickly, so the buyer settles on time and refinances afterwards.”
Gino Tabila
Associate Director
Frequently Asked Questions
Get an indicative offer within hours, not weeks.
No credit check. No obligation.
Why Secured Lending?
Are you a broker? Find out why brokers love working with us.
Case Studies
$400K Second Mortgage Repaid in Full After a Flexible Two-Month Extension
$1.8M First Mortgage Releases $980K of Working Capital for a Solar Business
$2.3M Second Mortgage Refinances an 18% Facility for a Glass Manufacturer
$800K Bridging Finance for Simultaneous Property Transactions in 48 Hours
$300K Second Mortgage for Dental Practice Working Capital in 5 Days
$700K Working Capital for a Technology Start-Up Settled in 72 Hours
$3M Working Capital for IT Business Expansion Settled in 2 Business Days
$1.9M Commercial Property Acquisition for Growing Doggy Daycare Business
Get an indicative offer within hours, not weeks.
No credit check. No obligation.
Why Secured Lending?
Are you a broker? Find out why brokers love working with us.
Other Urgent Loans We Fund
Each page covers one deadline: what we fund, what to send us and how quickly we can settle.