Lender of the year gets FSA approval

Lender of the year gets FSA approval


Following Mo Mulki’s breaking news announcement at yesterday’s B&C Awards, we can confirm that short and medium term finance provider Dragonfly Property Finance has indeed become FSA-regulated.

The lender’s announcement of regulation coincides with Dragonfly’s momentous win of the Lender of the Year Award 2012.

Dragonfly will begin accepting regulated business from August 1 2012.

FSA approval is the latest step forward for the company, which currently has more than a 40 per cent share of the short term finance market and is on track to grow its funding base significantly by 2015.

Dragonfly’s products have significantly evolved in less than two years, to now offer bridging, second charges, BTL, development finance and now regulated loans.

Between now and August 1, Dragonfly will select ten key partners that will broker all regulated deals during the initial roll-out.

To ensure it can cope with the increased demand that will come with FSA approval, Dragonfly will be announcing some high profile industry hires in due course.

Jonathan Samuels, CEO of Dragonfly Property Finance, said: “To have received FSA approval is fantastic news for Dragonfly and as a fully authorised lender we intend to put our foot down even harder on the pedal. We have come a long way in our short history but we now plan to really up the ante and become a one-stop shop for brokers.

“As well as the prestige it confers, being FSA-approved will enable us to innovate further, which is what all our introducers want to hear. These days, it is harder than ever to get regulated and it is therefore a huge vote of confidence in our business model. It is also a credit to the entire team that the approval process took such a short time.”

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