Can I use a Commercial mortgage if I am buying at auction?

Yes.

However, it’s important to note that while these financing options can be attractive for profitable projects, they may not always be suitable. Commercial Mortgages carry the requirement for searches at legals, depending on the local council can take up to 8 weeks. Therefore, our auction clients tend to opt for bridging finance in the first instance unless of course buying at modern action where you may have 56 days to complete rather than the standard 28.

It is important you get your solicitor to escalate your case via a letter to the bank, passed on by your brokers to skip the waiting queues if you have a genuine urgency such as auction completion dates.