Closed Bridging Loans
Our Bridging Loan Service
Special features of what we offer include:
-
Bridging Loans from £50,000 to £15 million
-
Term - From 1 to 36 months
-
Bridging loans for individuals, limited companies, sole traders and partnerships
-
Interest roll up schemes
-
Whole of market service - we work directly with UK bridging lenders
-
Lowest Rates - Access to leading bridging loan deals
-
Fast turnaround - speak to us today if you need to move quickly. 5 to 7 days possible.
To investigate your bridging loan options call our team on 0117 313 6058 or fill in our call back form.
We can provide bridging loan options and then provide mortgage solutions once the bridging loan is no longer required.
Bridging loans
A bridging loan is a loan that is specifically designed for short-term usage. If you have a shortfall in funding, then you could use a bridging loan to ‘bridge’ the gap before long-term finance is in place. By using a bridging loan, you can access a significant amount of capital in a short space of time.
Bridging loans often give you the chance to ‘roll-up’ the interest to pay at the end of the term of finance. ‘Rolling-up’ interest on a closed bridging loan enables you to avoid monthly interest payments, and allows you to use the loan solely to satisfy your financial needs. If you opt to ‘roll-up’ the interest on a closed bridging loan, then you could repay the interest in its entirety upon completion of your exit strategy.
An exit strategy is the method which you plan to use to repay the loan at the end of the term of finance. Bridging loan lenders will require a clear exit strategy in place before granting any bridging loan. An example of an exit strategy could be securing long-term finance such as a mortgage.
Closed bridging loans
There are two types of bringing loans: open bridging loans and closed bridging loans.
With closed agreement bridging loans the lender will set a date when the loan must be repaid in full, these are typically used for borrowers who have exchanged contracts but are still waiting for the sale of a property to reach completion. Typically, closed bridging loans are cheaper than open bridging loans. This is because closed bridging loan lenders are exposed to less risk, as they know exactly when the repayment will take place.
You may want to take out a closed bridging loan if you are confident that you can execute your exit strategy before the end of the term of finance.
Next steps
If you need a closed bridging loan, call us on 0117 313 6058 or complete our request callback form