Open vs. Closed Bridging Loan UK | What's The difference?

Bridging Loan property The most major difference between an open or closed bridging loans UK is the purpose of the exit plan. 

While both are short term funding options, open bridging loans UK do not have a clear plan in place for how the money will be returned (and can have an impractically lengthy time frame). 

One way this could be the case is, for example, an individual who intends to sell a property to pay back their bridging loan, but has not set a concrete date or purchase date. Conversely, with closed bridging loans the plan to return the funds is clearly laid out from the start. The lender can easily see how they will be paid back whether it's via inheritance, sale etc.