Property auction finance involves arranging auction mortgages within the time constraints laid down by the auction house. Normally you will be required to pay a 10% deposit on the day of the auction, and complete the purchase within 28 days. So, if you are looking to buy a property at auction but don’t have all the funds necessary to make the auction purchase, then one of the best options is to take a auction finance loan. An auction finance loan is a short term property loan which will enable you to purchase the property at auction and would normally be repaid when the property is in a position to get a standard mortgage.