Auction Funding by Tuscan Capital is specifically designed to provide credibility and proof of funds when bidding at auction.

The lender told Bridging & Commercial that the key features include:

• funding available up to 85% of the purchase price or up to 75% of the valuation, whichever is the lower
• a certified offer of finance subject only to final valuation and title clearance
• access to a dedicated legal team experienced in managing urgent property purchase matters
• title insurance specially negotiated to expedite the legal process and help overcome red tape and bureaucratic hurdles
• the services of a carefully selected valuation panel to provide prompt turnaround times (within 48 hours) and a copy of the final report immediately upon issue
• lending against bricks and mortar in England and Wales from £150,000-3m.

“Research among our brokers revealed a keen appetite for a product suitable for property bidders looking to close purchases quickly and with certainty,” said Colin Sanders, CEO at Tuscan Capital (pictured above).

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“We believe Auction Funding by Tuscan Capital serves precisely this purpose.

“Anticipating strong demand, we’ve allocated a dedicated tranche of funding to support this latest lending channel.”

Tuscan also confirmed the appointment of Jade Arnold-Brown (pictured below) to the newly created position of underwriting manager, reporting to head of credit and risk Dena Thompson.

Jade has over a decade of experience in property-focused financial services and was previously an underwriter at Alternative Bridging Corporation.  

She has successfully passed CeMap 1 and is currently studying to complete parts two and three in the near future. 

“Jade brings to Tuscan Capital a sharp eye for detail and a willing, can-do aptitude to work with our broker partners to ensure a smooth passage for their clients’ deals,” added Colin.

“Despite having become a mum only recently, Jade’s determination to push ahead with her professional qualifications exemplifies the character of the team we’re building here at Tuscan Capital. 

“For us, it’s quality over quantity every time.”