--- title: "Auction Holiday Let" description: "See how a rural property won at auction below market value was bridged for a future holiday let, reaching offer in just 15 days." url: "https://mortgagelane.com/case-studies/auction-bridging-loan-holiday-let" site: "Mortgage Lane" collection: "case-studies" date: "2026-09-25" author: "Seren Norton" category: "Case study" reviewed: "2026-10-15" reading_time: "4 min" byline: "Seren Norton" author_credentials: "CeMAP · FCA authorised firm" language: "en-GB" robots: "index,follow" --- # Auction Holiday Let See how a rural property won at auction below market value was bridged for a future holiday let, reaching offer in just 15 days. See how a rural property won at auction below market value was bridged for a future holiday let, reaching offer in just 15 days. ## Case study Speak to a Mortgage Lane adviser about your options. ## In short Mortgage Lane arranged a net bridging loan of £163,856 for a rural Leicestershire property bought at auction for £152,145, structured to cover both the purchase and the costs of preparing it as a holiday let. The property’s market value was £250,000, the auction completion date was fixed, and the application reached formal offer within 15 days of submission. ## Auction bridging loan: holiday let purchase, offer in 15 days Our client won a rural property in Leicestershire at auction for £152,145, well below its £250,000 market value, with plans to bring it forward as a future [holiday let](https://mortgagelane.com/mortgages/holiday-let-mortgages). Auction contracts don’t leave room for delay, so the funding needed to move at the same pace as the purchase. We secured £163,856 in bridging finance, covering both the purchase and onward preparation costs, and reached formal offer in just 15 days from submission. ## Case overview *Case overview* | Detail | Summary | | --- | --- | | Deal location | Leicestershire | | Purchase route | Auction | | Market value | £250,000 | | Purchase price | £152,145 | | Loan secured | £163,856 | | Proposed use | Holiday let | | Time to offer | 15 days from submission | ## The scenario Our client won the property at auction for £152,145, against a market value of £250,000, a substantial discount typical of the auction route, but one that still needed fast, certain finance to meet the auction completion deadline. The plan was to prepare the property and bring it to market as a holiday let once works were complete. ## The challenges 1. **Non-negotiable completion deadline.** As with any auction purchase, the completion date was fixed. Missing it risked losing the deposit and the property, so the finance needed to be arranged and ready inside a tight window. 2. **A purchase price well below market value.** Securing the property at a substantial discount to its market value meant the lender needed comfort that the price reflected a genuine auction outcome, not an issue with the property itself. 3. **Funding purchase and preparation together.** The client needed more than a straightforward purchase bridge: the facility had to cover both the acquisition and the costs of preparing the property for its intended use. 4. **No trading history.** As the property wasn’t yet operating as a holiday let, the case needed to be assessed on its intended future use rather than existing income, which not every lender is set up to do. ## The solution We arranged a net bridging loan of £163,856, structured to cover both the purchase and the costs of preparing the property, with the client’s intention to bring it forward as a [holiday let](https://mortgagelane.com/mortgages/holiday-let-mortgages) once works were complete. Submitted on the 1st of the month, the case moved through underwriting at the pace the auction deadline demanded. ## The outcome The application reached formal offer within 15 days of submission, a turnaround built around the certainty an auction purchase demands, where the completion date is fixed and non-negotiable. ## Bridging calculator Estimate the gross loan against property value before interest, fees and retained amounts. Explore your borrowing Start again Enter your figures in pounds. Your estimate updates as you go. Indicative maximum loan \- Enter your figures to see an estimate. Loan to value [Discuss your options](https://mortgagelane.com/contact) Indicative estimate only, subject to lender criteria and valuation. This is not a mortgage offer. Your property may be repossessed if you do not keep up repayments. ## Frequently asked questions **Can you get bridging finance for an auction property below market value?** Yes, lenders will often bridge against a property secured well below market value at auction, since the discount itself represents equity that supports the loan. Speed is essential, as auction contracts carry fixed, non-negotiable completion deadlines. **Can you use a bridging loan to convert a property into a holiday let?** Bridging finance is commonly used to acquire and prepare a property, including works needed to bring it up to holiday-let standard, ahead of refinancing onto a longer-term holiday let mortgage once the property is let-ready. > [!IMPORTANT] > Further reading > > Full lending criteria for holiday let property are on our [holiday let mortgages](https://mortgagelane.com/mortgages/holiday-let-mortgages) page. ## Related case studies - [2026](https://mortgagelane.com/case-studies/thatched-holiday-let-auction-cross-charge)Case study[Thatched Auction Purchase](https://mortgagelane.com/case-studies/thatched-holiday-let-auction-cross-charge)See how a client funded a holiday let auction purchase at 100%, secured with a second charge against their main residence.[Read more about Thatched Auction Purchase](https://mortgagelane.com/case-studies/thatched-holiday-let-auction-cross-charge) - [![An upward view between glass office towers and leafy tree canopies, with mint green facade outlines.](https://mortgagelane.com/assets/responsive/v1-f8255dc580b89005/w1440.d7954534.jpg)2024](https://mortgagelane.com/case-studies/holiday-let-title-split)Case study[Holiday Let Title Split](https://mortgagelane.com/case-studies/holiday-let-title-split)Discover how we helped split the title of a holiday let to maximise investment returns. Read the full mortgage case study and our tailored approach.[Read more about Holiday Let Title Split](https://mortgagelane.com/case-studies/holiday-let-title-split) - [2026](https://mortgagelane.com/case-studies/limited-company-buy-to-let-fast-offer)Case study[Limited Company Buy to Let](https://mortgagelane.com/case-studies/limited-company-buy-to-let-fast-offer)See how a limited company buy to let purchase went from submission to mortgage offer in just 3 days, using an SPV mortgage.[Read more about Limited Company Buy to Let](https://mortgagelane.com/case-studies/limited-company-buy-to-let-fast-offer) ## Won a property at auction below market value? We regularly structure bridging finance that covers both the purchase and the works needed to bring a property up to its intended use. Published: 2026-09-25 Last reviewed: 2026-10-15 Source: https://mortgagelane.com/case-studies/auction-bridging-loan-holiday-let