Bridging deal of the week

Bridging deal of the week


This week, B&C has details of a loan completed by principal London-based short and medium term finance provider Dragonfly Property Finance, which took only four days from enquiry to completion…

The £840,000 bridging loan - introduced to Dragonfly by broker Mortgage Centre IFA - was to a limited company and secured against a leasehold flat.

The funds were used to pay off the existing loan on the flat and free up £200,000 for the client’s business. Dragonfly will be repaid when the flat, currently on the market, is sold.

Commenting on the deal, Fahim Antoniades, Director at Mortgage Centre IFA, said: “Dragonfly is a market leader in bridging finance and really did deliver on this deal. It has a reputation for turning deals around quickly and do not disappoint. In terms of speed and efficiency, Dragonfly has raised the bar to a different level altogether. Our client is extremely pleased to have freed up the funds so quickly, especially because the sum was required for their business. We look forward to sending more clients Dragonfly’s way in the future.”

Jonathan Samuels, CEO of Dragonfly Property Finance, added: “It’s impossible to take a deal from enquiry to completion in this kind of timeframe without a broker that really understands what bridging lenders need and expect. Mortgage Centre IFA was on the ball throughout the application process and provided everything we needed well ahead of time. The result was that Dragonfly was able to get this deal done and dusted in a matter of days. Being able to offer brokers’ clients solutions in this way is what we’re all about.”


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