First-Time Buyers Buying at Auction
Can first-time buyers really buy at auction, when you have to complete in weeks, not months?
How we got it done.
What they wanted
To get on the ladder by buying at auction for good value.
Why it was complex
At auction, contracts are exchanged on the day and completion is usually due within about 28 days. Most first-time buyers can't get a mortgage offer, valuation and legal work done that quickly, and missing the deadline means losing the deposit.
How we structured it
We prepared everything before the auction and used a lender with a fast valuation and offer turnaround, so the offer was in place well within the deadline.
The outcome
They completed on time and got their first home at auction.
“Auction can be a brilliant route for first-time buyers. You just have to have the mortgage lined up before the hammer falls.”Josh Halsey, Founder and Director
Your home may be repossessed if you do not keep up repayments on your mortgage.
Auction purchases are legally binding on the fall of the hammer. Always speak to a broker and a solicitor before bidding.
This is a real, anonymised case shared with the client's permission. Every case is different, and outcomes depend on your own circumstances. We don't quote rates or guarantee outcomes.
Chatsworth Mortgage Group Ltd is an Appointed Representative of Cornerstone Finance Group Ltd, which is authorised and regulated by the Financial Conduct Authority.
In a similar situation?
Book a free, no-obligation call with Josh and talk it through.
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