The new tool, powered and managed by Network Auctions, enables Lendlord users to access more than 40,000 property investors, allowing them to buy and sell property with confidence, certainty and speed without leaving the platform. Contracts are exchanged on auction day and completions can take place within 28 days.
Lendlord Auctions provides landlords with the opportunity to sell tenanted properties, enabling them to avoid void periods and to achieve better prices through a competitive bidding process.
Aviram Shahar, Co-Founder and CEO at Lendlord says: “The launch of Lendlord Auctions provides another exciting feature for property investors through the Lendlord platform. Our partnership with Network Auctions gives landlords access to more than 40,000 property investors, with the promotion of properties on Rightmove and efficient auction processes that help vendors to achieve the best price for their properties and benefit from same-day contract exchange, with completion within a month.
“For investors who want to buy property, Lendlord also offers the option to arrange bridging finance through the platform – providing a simple one-stop shop to help landlords manage their property portfolios and maximise their returns.”
Toby Limbrick, Director at Network Auctions says: "We are delighted to be partnering with the Lendlord team and launch this exciting new service - a bespoke landlord-to-landlord auction platform.
"Lendlord's innovative approach gives bidders with a vast array of data about the property, tenancy and financials with a complete legal pack available on day one of marketing.
"We know landlords will welcome the opportunity to buy and sell tenanted properties with speed and certainty, we can't wait to get started!"
