Lakeshield has launched a new auction finance product on Brickflow, the digital platform for specialist property finance.
The bridging loan is only available through Brickflow for the first three months.
Lakeshield’s auction bridge loan is aimed at buyers needing quick completions and is open to deals across the UK.
Residential loans are available up to 75% loan to value (LTV) from 0.85% per month, and commercial loans go up to 70% LTV from 0.99% per month.
Loan sizes start at £250,000 and go up to £5m, with terms from 3 to 24 months.
Arrangement fees start at 1% and there are no exit fees.
Borrowers can include onshore, offshore, and those with adverse credit.
No valuations are required up to 70% LTV on residential and 55% LTV on commercial, with automated valuation models (AVMs), desktop valuations and dual legal accepted for faster processing.
Daniel Rodney, CEO at Lakeshield, said: “We believe in looking for reasons to say yes, not no.
“This exclusive auction product reflects our commitment to fast, flexible finance – and our partnership with Brickflow is the perfect platform to launch it.”
Glenn Franklin-Jones, director of lender relations at Brickflow, said: “We’re proud to offer this product exclusively through Brickflow for the first three months.
“It’s ideal for brokers needing fast decisions and reliable completions in the fast-moving auction space.”
