Open Bridging Loans
- Borrow from £25,000 to £25,000,000
- Interest rates from 0.75%
- Fast turnaround
- No definite exit strategy or initial repayment plan needed
You can raise funds quickly to buy property, even if you have yet to put in place a repayment plan or exit strategy. We can arrange a bridging loan as soon as possible, and have the funds released to you within days.
What is an open bridging loan?
An open bridging loan refers to the repayment method. It does not require you to have an exit strategy or an initial repayment plan in place. For example, you may want to buy a property quickly but haven’t put the existing one on the market. Or, you may need to refurbish or renovate property before you can arrange a mortgage. An open bridging loan offers you the funding to cover the short fall.
What's the difference between an open and closed bridging loan?
You don’t need to have an exit strategy prepared to take out an open bridging loan, but you do need one for a closed bridging loan. Fees and rates may be higher with open bridging as it is considered more risky to lend if there is no repayment plan set up. Whatever your situation, we can find a bridging loan tailored to your needs.
Why choose us?
Commercial Trust can work on your behalf to search our comprehensive panel of lenders to find the best bridging rates and deals. As we aren’t tied to a specific lender, we will recommend the most suitable open bridging loans for you. We also can arrange closed bridging loans, commercial, buy to let and renovation bridging loans, tailored to your needs. If you want to secure funds quickly for any purpose, contact us today.