The product launched in June and will only be available on the Brickflow platform for the first three months.
For residential borrowing, it is available up to 75% loan to value (LTV) from 0.85% per month, or up to 70% LTV for commercial borrowing from 0.99% per month.
Loan sizes range from £250,000 to £5m and terms of 3-24 months are available. The product’s arrangement fee starts at 1% and there is no exit fee.
Lakeshield will lend to offshore and onshore borrowers, including those with an adverse credit history.
There will be no valuations required up to 70% LTV on residential loans and up to 55% on commercial loans.
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The lender will make use of automated valuation models, desktop valuations and dual legals to speed up processing.
Lakeshield said it wanted the product to deliver speed, flexibility and give the lender reasons to say “yes” to borrowers.
It has been developed for auction purchases, distressed sales and quick completions. Lakeshield will also consider circumstances such as where the property is inhabitable, and will assess cases on the project rather than strict criteria.
The lender said it was also prepared to tailor a solution for borrowers who did not meet its criteria.
Daniel Rodney, CEO of Lakeshield, said: “We believe in looking for reasons to say yes, not no. This exclusive auction product reflects our commitment to fast, flexible finance – and our partnership with Brickflow is the perfect platform to launch it.”
Glenn Franklin-Jones, director of lender relations at Brickflow, added: “We’re proud to offer this product exclusively through Brickflow for the first three months. It’s ideal for brokers needing fast decisions and reliable completions in the fast-moving auction space.”
Last year, Brickflow integrated its technology with auction houses so buyers could apply for finance directly.
