Call Now: 0800 138 6001 - Open 24/7

Call Now: 0800 138 6001 - Open 24/7

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Bridging Loan Types

Closed Bridging Loans

A closed bridging loan, is a short-term bridging loan with a definitive repayment date agreed, unlike an open bridging loan whereby no date is set for repayment, the residential or commercial bridging finance is simply paid when the funds are available.

A closed Bridging Loan would be used for cash release from your property or towards the completion of a property you intend to buy, with a predefined date for completion, this would tie in with your loan details and so the lender and you would be working towards that completion date.

Open Bridging Loans

An open bridging loan is basically bridging loan that has no pre-agreed end date to it and is on a property that you already own, this would be the case if say you were using the loan to fund a situation whereby yours or another person in the chains property sale had fallen through. Obviously, in this situation, it would be difficult to set a date in stone, as you would not be in a position to give an exact completion date to repay the loan.

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Call us 24/7: 0800 138 6001

Top 10 Finance Ltd, Rex House 4-12 Regent Street, London, SW1Y 4PE. Tel: 0800 138 6001

Top 10 Finance Ltd is authorised by The Financial Conduct Authority (FCA) no 725234 The FCA Think Carefully before securing debts against your home. Your property could be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it. Data Protection Act (1998). Registration No: Z2861884 Company Number 06261373 Top 10 Finance Rex House 4th Floor 4-12 Regent Street London SW1Y 4PE (c) 2007 - 2018 Top 10 Finance. Sitemap - Privacy Policy - Reviews

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