Auction Mortgage Finance
Many property buyers are now turning to auction houses throughout the UK in a bid to secure a property for less to increase profits on buy to let, renovation projects and even commercial property.
There are many advantages and a few disadvantages of buying a property at auction, some of these we have listed below:
Advantages:
- You can potentially buy properties at auction for much less than market value.
- You can obtain ownership of the property much quicker.
Disadvantages:
- Properties may have problems such as live-in tenants, need renovation or are hard to sell.
- Auctions are not for the fain-hearted and must be fully understood before attempting.
Auction Houses
Allsop
Known as the UK’s number 1 auction house. Also one of the leading property consultancies. They have offices in London, Leeds, Brighton and Glasgow.
http://www.allsop.co.uk/services/auctions/
33 Wigmore St, London W1U 1BZ
020 7494 3686
enquiries@allsop.co.uk
Auction House
Hosts auctions all over the UK. For a complete list of locations, click here.
http://www.auctionhouse.uk.net/
The Barn, Newmarket Road, Cringleford, Norwich NR4 6UE.
0345 873 1366
enquiries@auctionhouse.uk.net
Barnard Marcus
One of the largest residential property auctioneers in the UK with nationwide properties. All auctions are held at Grand Connaught Rooms, 61-65 Great Queen Street, Covent Garden, London.
http://www.barnardmarcusauctions.co.uk
Sovereign House, 361 King Street, London, W6 9NA.
020 8741 9990
auctions.hammersmith@sequencehome.co.uk
Barnett Ross
Offer commercial property nationwide and residential property in London, Middlesex and Hertfordshire.
Brook Point, 1412 High Road, Whetstone, London N20 9BH.
020 8492 9449
info@barnettross.co.uk
Phillip Arnold Auctions (Formerly Brendons Auctioneers)
Focuses on West London but do sell property nationwide.
Third Floor, 24 New Broadway, Ealing W5 2XA.
0845 652 5251
info@philliparnoldauctions.co.uk
Savills
Tend to focus on higher end housing auctioned from either London or Nottingham.
http://auctions.savills.co.uk/
139 Sloane Street, London SW1 X9AY.
0207 824 9091
info@savills.co.uk
Strettons
Operating mainly in the London area.
http://www.strettons.co.uk/Auctions/AuctionsHomepage
Central House, 189-203 Hoe Street, London E17 3SZ.
020 7637 4000
auctions@strettons.co.uk