Closed Bridging Loan Options
- Borrow from £25,000 to £25,000,000
- Low rates and charges
- Guaranteed fast turnaround
We can arrange hassle-free open or closed bridging loans. If you have an exit strategy or a repayment plan in place, you can get a closed bridging loan at better competitive fees and rates. Therefore, if you can guarantee a property sale, have bought an auction property or have exchanged contracts, a closed bridging loan is for you. We can give you the money you need on time at great rates.
What is a closed bridging loan?
A closed bridging loan is only available if you have a set repayment plan or exit strategy prepared. For example, you are selling a property and have passed the stage of exchanging contracts. It is very unlikely the sale will fall through at this point, therefore there is less risk of being unable to repay the loan. You may have bought property at auction and need a bridging loan to finance the sale quickly. As you will most likely be arranging a conventional mortgage at the same time, you can opt for a closed bridging loan.
What is the difference between a closed and open bridging loan?
You will need to have an exit date or strategy in place to be considered for a closed bridging loan. You do not need to have this or an initial repayment plan to be eligible for an open bridging loan. Rates and fees will be set at a higher rate for open bridging as these loans are considered to be more risky.
Closed bridging specialists
We work with a range of lenders who can release the required funds to you as soon as possible.
Our friendly team of advisers will assess your individual situation to help find the most suitable bridging loan for your needs.
Work out bridging loan rates all on one screen
We provide a range of short term finance solutions, including open bridging loans, commercial, buy to let and renovation bridging loans. Contact us today or use the bridging loan calculator to quickly work out indicative repayments plus broker and lender fees all on one screen.