Reflecting the ongoing health of the short-term finance sector, London-based short and medium-term lender, Dragonfly Property Finance, today announced it has redeemed more than £200 million of loans since its launch in late 2009.

In its three years in the market, Dragonfly Property Finance has extended its offering beyond the core bridging product to second charges, medium term buy-to-let loans and development/mezzanine finance.

The lender now caters for every type and size of short-term loan, from a standard £100,000 bridge for refurbishment purposes to a £6 million second charge. 

Recently, it even lent on an anaerobic digestion plant, which shows its innovative approach to lending.

With funding lines of £300 million currently, and a target of £1 billion in the medium-term, Dragonfly is well positioned to keep lending to people and businesses in every corner of the UK on a daily basis.

Jonathan Samuels, CEO, Dragonfly Property Finance, commented: “For us to have passed £200 million of loan redemptions in such a short time period reflects not just the huge demand for short term finance but the changing demographic of the people who are using it. 

“For many borrowers, short and medium term finance has evolved from being the loan of last resort to their first port of call. With mainstream lenders still ultra-cautious, people have inevitably turned to alternative finance providers and it is a trend we expect to continue in the years ahead. The monopoly of the mainstream banks is no more.”