Lendlord, the platform for property investors, has collaborated with Network Auctions to launch an integrated online auction tool that enables users to buy and sell property.
The launch of Lendlord Auctions means that Lendlord users can now buy and sell property without leaving the platform.
The tool, which is powered and managed by Network Auctions gives landlords exposure to more than 40,000 property investors through the Lendlord platform. Contracts are exchanged on auction day and completions can take place within 28 days.
Lendlord says the tool 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 (pictured), co-founder and CEO at Lendlord, said: “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, added: “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.”