Closed Bridging Loans

Closed bridging is all about guaranteed repayment!

Where short term cash is required and any loan will be repaid from an assured event, then closed bridging finance is the ideal solution for raising cash quickly. That assurance for any lender means that any loan offered should be at a lower price than other bridge lending scenarios.

In fact the lowest cost, non-status bridging loan is where finance is borrowed and repaid on the same day, for that service visit our One Day Bridging Finance page for more details.

To qualify for a closed bridge and providing there is sufficient security for a prospective lender then there needs to be a contractual arrangement in place. Circumstances that meet these conditions are usually where contracts have been exchanged for the sale of one property and funds are required to secure a new property.

Another situation may be where a firm mortgage offer has been made but that lender cannot complete on time and there is a risk of losing the purchase. A buy-to-let investor may find themselves in a similar position. A property developer could raise cash against units that have been sold in order to buy land for another development.

Finally a closed bridging loan is one area where a high street bank will consider lending, however any loan will be subject to a full status application. There will be one aspect that will be lacking taking the bank route, funds will almost certainly not be available as quickly as they would with a small specialist lender. If time is not critical then a high street bank will alway be the cheapest option to take.