I often get asked this question and so I have decided to answer it as best I can below.
Yes, mortgages can be used to purchase properties at auctions. However, doing this can often be a very complex process and you will need to know what you’re doing.
Firstly, you need to be clear on the fact that when you win a bid at an auction you are legally obliged to follow through with the purchase. A 10% deposit usually needs to ...Read More →