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Mortgageable and liveable is not quite the same, but it’s pretty close!
For example, half the house could need decoration and woodwork painting, carpets/flooring missing, but as long as it has a functional kitchen, bathroom, hot and cold water, electricity, windows/secure then a normal mortgage is possible.
I wouldn’t consider that ‘liveable’ but you could live there at the same time.So you could raise money on a standard mortgage with a very basic finish/temporary functionality, but if it needs major work that is likely to take months and months, a bridging loan or light refurb mortgage might be needed to cover that gap between purchase and mortgageable.
Acliff
That's really helpful, thanks.
We wouldn't need to get the mortgage in place by the auction timeframe (assuming we could complete within 90 days of the auction), but we'd need it before we could pay to make the house liveable.
So it could be doable by the sound of it.