Funding a Large Auction Purchase: How to Complete in 28 Days
Auction Finance · September 2026 · 5 min read
How to fund a £2m+ auction purchase in time: what to line up before the hammer, how lenders assess lots, and the exit they will want to see.
Most UK auctions are unconditional. When the hammer falls you exchange contracts, pay a deposit of around 10% and are usually committed to completing within 28 days. Miss the date and you risk losing the deposit and facing a claim for the seller's losses. For a lot over £2m, that is a lot of money riding on a lender's timetable.
The buyers who complete comfortably are the ones who treated finance as part of their due diligence, not something to arrange after they won.
Read the legal pack with your solicitor before bidding, not after. Lenders will read it too, and anything unusual in the title, special conditions or searches will slow them down. Share the pack with your broker early so a lender can flag issues while there is still time to walk away.
Get indicative terms in principle on the specific lot. A general approval is not enough at this size. The lender needs to know the asset, the purchase price range and your plan for it.
In this article
- Before the auction
- How lenders look at an auction lot
- The exit decides the deal
- What we do
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