House buying at an auction

[Old Hack]

Just a quick note, as some advice here is wrong. You'll rarely be able to source a mortgage for an auction property.

[Martin@AS Financial]

Just a quick note, as some advice here is wrong. You'll rarely be able to source a mortgage for an auction property.

Hi Old Hack

I see what you mean as the amount cannot be open ended. However, you would submit the application based on your maximum bid / guide price and would then borrow the required percentage if the bid is succesful. Essentially, it is a case of making sure that you can get a mortgage on the property because once you have exchanged there is no going back unless you can complete with cash.

[TheFaQQer]

Just a quick note, as some advice here is wrong. You'll rarely be able to source a mortgage for an auction property.

I can only hope that you're wrong there.

Bought this yesterday

[Old Hack]

Hi Old Hack

I see what you mean as the amount cannot be open ended. However, you would submit the application based on your maximum bid / guide price and would then borrow the required percentage if the bid is succesful. Essentially, it is a case of making sure that you can get a mortgage on the property because once you have exchanged there is no going back unless you can complete with cash.

Many, if not most, auction properties have no kitchen or bathroom, and I was under the belief there are few mortgage peeps out there that would allow you to borrow without on, the other, or both. Love to be wrong, and if so, I may delve into it...

Not a house that size mind you faqqer

[TheFaQQer]

Many, if not most, auction properties have no kitchen or bathroom, and I was under the belief there are few mortgage peeps out there that would allow you to borrow without on, the other, or both. Love to be wrong, and if so, I may delve into it...

Not a house that size mind you faqqer

If it's without living accommodation, then you're right - but the same is true if you buy a wreck anyway. But plenty of property at auction has everything ready to go - there was a 6 bedroom house in Middlewich yesterday which started bidding at £5k with no reserve.

[vetran]

I can only hope that you're wrong there.

Bought this yesterday

seriously? wow you lucky boy. See you on grand designs.


Being a church you probably have some sort of right to bill the neighbours for repairs.

[Bunk]

When do the sermons start at the Church of Faq?

[TheFaQQer]

seriously? wow you lucky boy. See you on grand designs.

Yep - unfortunately, they aren't looking for new properties at the moment.

I'm still hoping that Sarah Beeny wants to come and have a good rummage around

Being a church you probably have some sort of right to bill the neighbours for repairs.

I can only hope.

[TheFaQQer]

When do the sermons start at the Church of Faq?

It's my plan B - religion is the way forward.

I'm going to start by putting a collection box and a big thermometer outside and ask for contributions to the church roof fund.

[stek]

I've seen BTL's for sake here in Dublin, 7 bedrooms, student house, €259,000 yield pa €48,000, seems high that but it's not something I know about!