Masthaven Group Ltd,
Mimosa House,
12 Princes Street,
London W1B 2LL
Tel: 020 7036 2000
Fax: 020 7036 2001
e: enquiries@masthaven.co.uk
Closed Bridging Loan
Q - What is a closed bridging loan (closed bridge)
A closed bridge is where the exit route is in place and has already been agreed. Several years ago this was called back to back, or day one remortgaging and tremendous amounts of business were transacted between bridging companies and first charge mortgage lenders, primarily Mortgage Express. With the vast changes that have occurred in the financial world in the last 3 years there is realistically no such thing as a closed bridge nowadays because lenders can pull products at the last minute with no warning, and as has always happened, prospective purchasers can also pull out of a transaction at the 11th hour.
See our Bridging loan rates
See also
