What is a Closed Bridging Loan?
A Closed Bridging loan is a short term loan secured on a property by way of a first charge mortgage where the exit is guaranteed by way of a sale or Remortgage.

What type of security can I offer?
We will lend on most types of residential property purchased and sold by Professional Property Investors and Landlords. We do not lend on residential property you plan to use as your primary residence.

Where do you lend?
All property used as security must be in England, Wales or Scotland. Currently we do not lend in Northern Ireland.

Do I need to prove my income?
We lend on the value of the asset, however we like to see a current copy of your Experian credit file and score card.

Do you fund HMO Property Transactions?
Yes, we can arrange bridging finance to fund a percentage of the purchase price and a commercial loan as an exit, meaning that you leave low to No Money in the deal. Call 08456 440 911 to discuss your project.

How much can I borrow?
Loans start from £26,000. Please contact us direct on 08456 440 911 to discuss your requirements.

How do I apply?
You need to complete our Application Form and Statement of Assets and Liabilities.
Call to discuss your project.

Do you accept 2nd Charges as security?
No. We are not currently accepting Second Charges as security.

What is the Maximum LTV?
The maximum LTV is dependent on the property taken as security. Typically 80% of Purchase Price or 70% of OMV, whichever is lower or higher if you have additional security. To confirm our current LTV’s please contact us on 08456 440 911

How long can I borrow the money for?
We lend bridging finance from one day to 12 months.

Do I need my own solicitor?
Yes, it is recommended that all borrowers seek independent legal advice prior to signing any legal documents. To speed up the process we ask that you use our recommended solicitor, this is not compulsory.

Do I need my own mortgage broker?
Yes, it is recommended that all borrowers seek financial advice from an authorised mortgage broker who specialises in providing advice for buy to let property investments. To speed up the process we ask that you use our recommended broker or you can use your own broker.

How long does it take to arrange a bridging loan?
Providing that our solicitors are happy with title and replies to enquiries from your solicitor we can arrange funds as quickly as 72 hours.

Do you provide bridging loan finance to Limited Companies?
Yes, all Directors will be required to give a personal guarantee.

What are the costs involved?
Every bridging loan is different and tailored to meet your individual needs, so there is no standard answer.

Generally you will have the following costs:

Valuation Fee:
This is instructed by ClosedBridgingFinance and paid direct by the customer to the valuers firm. We obtain a fixed price quote from the Surveyor.
Budget from £245 for property up to £100,000 value. We do not make a margin on valuation fees.

Our Solicitors Fees:
Only payable once we have agreed commercial terms with you.
Budget £1,250 excl vat to cover our Legals fees inc. debenture, personal guarantee, discharge, Lease review, TT/CHAPS and disbursements.

Your Solicitors Fees:
You are responsible for these. We can recommend a solicitor who can act for you if required.

Arrangement Fee:
Typically from 1% x Gross Loan, deducted from the loan advance and paid at redemption. If a broker has introduced you this will be deducted from the loan advance.

Exit Fee:
Typically from 1% x Outstanding Loan Balance, deducted from the loan advance and paid at redemption.

Monthly Interest:
Typically from 1.25% x Gross Loan, deducted from the loan advance and paid at redemption. This can be paid monthly and is agreed in advance with you.

How do I find out more about your products?
Please contact us on 08456 440 911 and we will be able to help you with enquiries regarding our products.
Alternatively email info@closedbridgingfinance.com

Can I borrow 100% of the purchase price?
Yes, providing strict criteria are met AND you have additional properties to offer as security.

How do you determine Rates etc?
We set individual rates on the basis of the financial status, personal circumstances and the amount borrowed for each applicant. Eligibility criteria and conditions apply. Loans are subject to affordability, personal circumstances, loan amount and loan to value to determine what products are available to applicants.