close icon
search icon Apply phone 13 10 90
Find out if you qualify

Want to buy your home at an auction?

Buying a property at an auction can be daunting. Research shows nearly two thirds of Australians don’t feel confident at bidding, so we’re here to help.

Before auction day, it’s important to:

  • Inspect the property
  • Research the local market
  • Get a property valuation
  • Arrange your finance
  • Get a copy of the sales contract and seek legal advice
  • Title searches & building and pest inspections
  • Confirm with the agent the deposit required on the day.

Before you go to an auction, decide what your maximum purchase price is so you don’t get carried away in the heat of a bidding war.

At, we’re here to help you with the finance so you can go to your auction ready to make an offer with no hassle. We offer Auction Approval, where your lending specialist will review your income and expenses with you to determine what you can realistically afford to repay, and what you can afford to bid for the home..

When you’re ready to make an offer, we’re here to help.

Loans for buying my home

We're recognised & awarded by the Australian financial industry. View all awards

Why choose to help you get auction ready?


Low interest rates

We can offer rates much lower than some banks and lenders. Fewer overheads mean doing business costs less and those savings translate directly into lower interest rates and fees so you can save when buying your next home, whether by auction or private offer.


Flexible options

We offer great low rates on our fixed, variable and split home loans for your next home purchase. We also offer discounts for large deposits or customers with owner occupied and investment properties, so it could be worth considering keeping your existing property as an investment to access some loan discounts.


Award winning

Many customers who have bid at auction have financed their new home purchases with us. Don’t just take our word for it - we are also recognised by the experts. By keeping interest rates low and providing exceptional service, we keep on winning awards for our loans, extras and innovations, year after year!


Auction Ready Pre-Approval

Auction approval is the commitment to lend you up to a certain amount, subject to conditions such as verifying your income and getting a valuation on the property. If you apply for Auction Approval before you even start looking for a home, you'll know exactly what you can afford from the outset and won't waste time looking at homes that are outside your price range.


Free Property Report

This can help you get started on research to make sure your next home is the right home for you. The property reports provide information such as Estimated property value, Property mapping, Properties sold in the area, Market comparison, Median sale prices in the area and Suburb insights.


Australian based support team

We have an experienced, Australian based team. At every step of the home purchase journey, you’ll talk to a real person from our friendly team of lending specialists who are here to help you get a low rate home loan as quickly as possible, so you can get the keys to your next property.

Our Auction Ready Process makes borrowing simple so you can get auction ready and prepared to make an offer. Go from application to settlement in a few steps. Here's how.


Apply online

Fill out our application online or talk to one of our Australian-based lending specialists to do the hard work for you.


Goodbye paperwork!

Login to onTrack and easily upload the required documents. Plus, you can track your application through to approval.


Settle & save

After you buy your home at auction, call your loan specialist. We will then do everything required for final approval and loan settlement, so you can start saving money.

Common home loan questions

The auction is led by an auctioneer, and you’ll need to register with the auctioneer. They'll give you a bidder’s number, and they will manage the bidding process.

The seller of the house usually has a reserve price which is the minimum price that they will sell the property for at auction. If the reserve price of the property has been reached, it is considered to be "on the market" and will be sold to the highest bidder. If the reserve is not reached, then the property is ‘passed in’ or ‘withdrawn from auction’ and the highest bidder has the right to negotiate with the seller.

After the bidding, the successful bidder is required to pay an immediate deposit, which is typically 5% to 10% of the purchase price. The sale is settled once the contract has been signed by both the buyer and the seller, and all relevant payments have been made.
1. Inspect the property and do your research.
This is imperative before going into an auction so you’ll get a realistic understanding of the value of the property.

2. Check the building and pest report.
Some agents prepare this prior to an auction, and if they haven't, ask them for one.

3. Arrange your finances.
Ask your lender how much you can borrow. Get your loan pre-approved, and make sure that you have enough in your bank account to write your deposit cheque.

4.Ask for legal advice.
Have your solicitor review the contract of sale in case you’re the successful bidder.
At auction, if you're the highest bidder, you must sign the contract, and there's no cooling-off period. If you can't settle the agreed price of the home by the settlement date, you'll lose your deposit and be in breach of the contract.

There can be very serious legal consequences if you cannot settle the sale. We recommend you do either of the following before you bid at an auction:

  • Got your finance pre-approved, including the maximum amount you can borrow. You can get a quick Auction Approval here.
  • Ensured you have enough money available to pay the deposit using the method specified by the seller's agent (this is usually 10%).
Simply fill out your application online by entering some of your details here.

Alternatively, chat to one of our friendly lending specialists on 13 10 90 and they can complete your application for you.

After your application is complete, use our app onTrack on your desktop or device to add your documents such as payslips, and details of your existing loan. In the onTrack app, you can track the progress of your application. For more information for documents required for a home purchase or build:
What documents do I need to buy or build a home in Australia?
A property report is helpful if you're looking to purchase a new property, know the address and want to determine if it’s the right property for you, or potentially in a high growth area. It is a good idea to get a property report to do your research on the property before you make an offer.

Our property reports provide information such as Estimated property value, Property mapping, Properties sold in the area, Market comparison, Median sale prices in the area and Suburb insights.
You can get your dream home at a great low home loan rate because of our online model. We have to pay for branches or broker commissions, which means we are able to pass our savings directly on to you through low home loan rates and and no ongoing, annual or monthly fees.
We can provide approval for applicants in as little as 2-3 days, pending the customer's individual circumstances and all correct documentation has been provided. It's important to note that this is not a 'one size fits all' number, and the approval time will depend on each individual applicant's circumstances.

We'd always advise our customers to have the right documentation ready at application stage, so you can move forward with your application as quickly as possible. For more information for documents required for a purchase or build:
What documents do I need to buy or build a home in Australia?
You have the option to add a 100% offset sub-account to your loan. Many people choose to do this to help pay their home loan faster and save thousands on interest payments. For an extra 0.10% to the loan, you can add a 100% offset sub-account with online, ATM, EFTPOS & Visa debit card access to your money, plus unlimited free redraws. More information on adding an offset here.
Unlike many other lenders, we charge no monthly, annual or ongoing fees. The only fees you will pay on your home loan are a one-off $300 settlement fee plus a valuation fee, which for a standard property in a metropolitan area in a major city starts at $220.

Home loan repayment calculator

Use our home loan calculator to estimate what your monthly mortgage repayments could be. Whether you're refinancing or just wanting to understand how much you can afford, all you have to do is enter how the amount you would like to borrow, interest rate, home loan term, payment frequency, and repayment type (either principal & interest or interest-only).

Estimated savings from repayments graph

Your estimated repayments are


Calculator assumptions

Get started

Ready to buy your next home at an auction? Simply apply online or chat to a lending specialist and they can do the hard work for you. We make the process easy so you can settle sooner.


Talk to a lending specialist

Book a call with one of our experienced lending specialists and they can complete your application for you.


Ready to apply?

Call 13 10 90 or select “Apply Now” to begin your online Home Loan application.

Get free property & suburb insights

To help you find the perfect home, we'd like to give you a free Comparative Market Analysis (CMA) property report, a breakdown of information about the property you are considering, including previous sale prices.


Estimated property value

An indication of how much the property is worth, based on factors including recent sale prices for comparable properties in the area.


Property mapping

An aerial photo of the property and its immediate surrounds, plus maps of the street & the property in relation to points of interest and facilities.


Properties sold in the area

You will be able to see details of recently-sold properties in the area including the date they were sold, land size, number of bedrooms, number of bathrooms and garage size.


Market comparison

Detailed information about nearby properties currently listed for sale or recently sold, including their first and last advertised price and days on the market.


Median sale prices in the area

The median sale price for homes in the area and how it has changed each month in recent years.


Suburb insight

Information about the suburb's demographics, such as household occupancy, household income and household structure.

Useful Resources


Guide to buying a home at an auction

Most people have questions about the home buying process, so we’ve created this guide to make things easier for you to understand how it works, particularly at an auction, and how you can start saving sooner.

From information on how to apply for a loan to advice on pre-approval, you’ll find what you’re looking for in our guide. Plus, we’re available to help via Live Chat at most times of day.

How it works - Home Loans - Purchase
Buying a home at an auction

Buying a house in Australia through a property auction can get very stressful especially if you don’t know how the system works.

Buying a home at an auction

Get home loan pre-approval, be confident and be prepared to walk away - these are just some of the tips we've listed for buying a property at an auction. View the rest here.

Buying a home at an auction

Auctions can be a great way to buy a home, but they’re not that simple. Here are some key things you need to prepare for, for both sellers and buyers.

Buying a home at an auction

Bidding over the phone is an excellent option for people who can’t physically attend a property auction

Buying a home at an auction

We’ve put together our top tips to help you prepare for your auction and buy your dream home for a fair price.

Buying a home at an auction

Conditional approval is a statement from a lender that you will be approved for a home loan up to a certain dollar limit, provided your application meets pre-agreed conditions.

Got a question? We can help


Chat online now

Send us a message via Live Chat and we’ll get back to you instantly.


Talk to a lending specialist

Our experienced lending specialists can answer any questions you have on our loans, getting auction ready, or even the general home buying process.