---
title: "Thatched Auction Purchase"
description: "See how a client funded a holiday let auction purchase at 100%, secured with a second charge against their main residence."
url: "https://mortgagelane.com/case-studies/thatched-holiday-let-auction-cross-charge"
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"
---

# Thatched Auction Purchase

See how a client funded a holiday let auction purchase at 100%, secured with a second charge against their main residence.

See how a client funded a holiday let auction purchase at 100%, secured with a second charge against their main residence.

## Case study

Speak to a Mortgage Lane adviser about your options.

## In short

Mortgage Lane arranged 100% funding for the auction purchase of a thatched property intended as a holiday let, using a second charge against the client’s main residence.

The client had never bought at auction before. Bridging terms were arranged ahead of the sale, the purchase completed, and works are now underway to bring the property forward as a holiday let.

## Thatched holiday let auction purchase: 100% funding via a second charge

Our client wanted to buy a thatched holiday-let property at auction but needed 100% funding to do it, and had never bought at auction before. We arranged bridging terms ahead of the sale and structured the funding around a second charge on the client’s own home, rather than the purchase alone.

We secured 100% of the purchase price by structuring a [second charge](https://mortgagelane.com/insights/second-charge-mortgages) against the client’s main residence, and completed the purchase with confidence despite it being their first time buying at auction.

## Case overview

*Case overview*

| Detail | Summary |
| --- | --- |
| Property type | Thatched roof property, intended as a holiday let |
| Purchase route | Auction |
| Funding secured | 100% of purchase price |
| Security structure | Second charge against the client’s main residence |
| Client experience | First-time auction buyer |
| Outcome | Purchase completed, works underway |

## The scenario

Our client approached us before the auction, asking us to review the property and obtain bridging terms ahead of the sale, rather than waiting until after a winning bid to start arranging finance. They needed 100% funding for the purchase, which meant looking beyond a standard loan against the property itself.

## The challenges

1. **Needing 100% funding, not a standard LTV.** A conventional loan against the auction property alone wouldn’t cover the full purchase price, so the case needed a funding structure that went beyond a standard purchase loan.
2. **First-time auction nerves.** As their first auction purchase, the clients were particularly concerned about the fixed completion deadline and what would happen if funding wasn’t ready in time.
3. **Arranging terms ahead of the sale.** Reviewing the property and securing bridging terms before the auction, rather than after, meant doing the groundwork on a tight pre-sale timeline so the clients could bid with confidence.

## The solution

To achieve 100% funding, we structured the purchase around a [second charge](https://mortgagelane.com/insights/second-charge-mortgages) against the client’s main residence, using equity in their existing home to cover the full purchase price rather than relying on the auction property alone as security.

Because this was the clients’ first auction purchase, reassurance mattered as much as the structure itself. Our track record of 100% completion on auction purchases gave them the confidence to proceed, knowing the deadline pressure that comes with buying at auction had been planned for in advance, not scrambled together after the fact.

## The outcome

The purchase completed successfully. The keys are now in the client’s hands, with works underway to bring the property forward as a holiday let.

## Frequently asked questions

**Can you get 100% funding for an auction property purchase?**

Yes, in the right circumstances. Where a buyer doesn’t have enough deposit to cover the shortfall from a standard loan-to-value, funding can sometimes be structured using a [second charge mortgage](https://mortgagelane.com/insights/second-charge-mortgages) against another property they own, such as their main residence, to make up the difference.

**Is it worth getting bridging terms arranged before an auction, rather than after?**

Yes. Arranging terms in advance means you go into the auction knowing your funding is ready, rather than discovering after a winning bid that the numbers don’t work within the completion deadline, which is fixed and non-negotiable once contracts exchange.

> [!IMPORTANT]
> Further reading
>
> Full lending criteria for second charge finance are on our [second charge mortgages](https://mortgagelane.com/insights/second-charge-mortgages) page.

## Related case studies

- [2026](https://mortgagelane.com/case-studies/auction-bridging-loan-holiday-let)Case study[Auction Holiday Let](https://mortgagelane.com/case-studies/auction-bridging-loan-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.[Read more about Auction Holiday Let](https://mortgagelane.com/case-studies/auction-bridging-loan-holiday-let)
- [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)
- [2026](https://mortgagelane.com/case-studies/title-split-mufb)Case study[Title Split MUFB](https://mortgagelane.com/case-studies/title-split-mufb)See how a client split a multi-unit freehold block into three leasehold titles and funded the purchase at 100%, with no deposit contribution.[Read more about Title Split MUFB](https://mortgagelane.com/case-studies/title-split-mufb)

## Considering an auction purchase but short on deposit?

We can review the property and arrange terms in advance, including funding structured against another property you own.

Published: 2026-09-25

Last reviewed: 2026-10-15

Source: https://mortgagelane.com/case-studies/thatched-holiday-let-auction-cross-charge