Online provider Bamboo Auctions has struck a deal with lender Together Money to supply finance to buyers using its platform.
The new partnership means all the properties listed on Bamboo Auctions will be eligible for Together’s auction finance.
The deal will allow buyers to secure the purchase within the short timeframes that apply at auction, if they are unable to obtain finance quickly through other means such as a traditional mortgage.
Bamboo works with a range of auction houses, including Clive Emson and SDL Auctions, providing an online platform for auction sales outside of the ballroom.
Chris Baguley, Together’s commercial director, said: “Regardless of whether you buy in the auction room or online, it’s common practice for auction buyers to have just 28 days or less to complete on a purchase, so buyers and investors need to act fast to secure their dream lot.
“This partnership will allow users of Bamboo Auctions to easily access funding, with on-the-spot decisions so they can bid with confidence, making the process as streamlined as possible,” he said.
Robin Rathore, founder of Bamboo Auctions, said: “Together is a leading lender of auction finance and well established in the auction market, whilst Bamboo Auctions is the leading provider of online auctions, so it’s a natural partnership.
“We are proud to be working with Together as the auction market grows through greater use of online auctions.
“When purchasing online, some buyers will require access to short-term funding, and by working with Together, we can signpost them to a reputable and trusted auction finance provider.”
