There are two types of bridging loans in the UK and one is more secure than the other. A closed bridge is a loan that is available to someone who wants to buy their new property before their current one has fully sold but who has exchanged contracts on the sale. An open bridging loan is made available to someone who has bought their new property but not sold their existing home. The potential term of the open bridging loan could be a lot longer. This can be risky as open bridges are expensive and you may be paying it for a lot longer than you expect.

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