Breaking news: Industry titan hits £750m milestone
By Chanice HenryBridging lender Dragonfly Property Finance has redeemed more than £750 million worth of loans since its launch in 2009
Bridging lender Dragonfly Property Finance has redeemed more than £750 million worth of loans since its launch in 2009.
The liquidity provided by its redemptions, along with its commercial property division’s growing strength, has put Dragonfly in a strong position to achieve its £2 billion target of completions by the end of this year.
Commenting on the redemption levels, Jonathan Samuels, CEO of Dragonfly Property Finance, said: “As any lender will know, redemptions are a key gauge not just of its own financial health and the quality of its underwriting but the market as a whole. The redemption levels we’re seeing underline the ever-improving quality of the borrowers out there and their understanding of the type of finance we provide.
“This is a positive not just for us but for all specialist lenders: the appetite for non-bank finance is growing by the day.”
Last year, Dragonfly passed £1 billion of completions and, has to date, lent more than £1.3 billion through approximately 2,500 loans.
Keywords: Dragonfly property finance, mark posniak, jonathan samuels, dragonfly finance, bridging lender, octopus investments, short term lending, bridging loans, Dmitri Zaprzala, Justin Cooper, Maria Magnussen