B&C can exclusively announce that one of the UK’s largest short and medium term lenders, Dragonfly Property Finance, has passed £500 million of lending since its launch.
To date, the lender has completed more than 900 loans and now has its sights set on reaching £1 billion of lending within the next 12 to 18 months.
Since it set up in 2009, 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; it has also recently added a commercial loan product to its armoury.
Dragonfly currently offers the cheapest bridging loan rate on the market, at 0.749 per cent per month.
Jonathan Samuels, CEO of Dragonfly Property Finance, commented: "To pass £500 million is not just a major milestone for us but reflects the spiralling demand for short term finance, especially among people who have never used it before. With mainstream lenders still deeply cautious about anything slightly outside the box, people have inevitably turned to alternative finance providers to achieve their goals. There’s no reason to think the sector won’t continue to grow strongly in the years ahead.”
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