Dragonfly hits £500m of redeemed loans

Today, Dragonfly Property Finance announced it has redeemed more than £500 million of loans since its launch in 2009.This month, the lender also passed 1500 loans completed.

 Dragonfly, which launched in 2009, is targeting £1 billion of loans completed during 2014. It’s momentum will be added to by its new commercial bridging loan range, headed by Ludo Mackenzie, and recent acquisition by Octopus Capital.

Jonathan Samuels, CEO, Dragonfly Property Finance, commented: "As other firms in the sector will confirm, the first few months of 2014 have been exceptionally busy. 2013 was the biggest year yet for bridging but 2014, at the current rate of growth, should beat it hands down.

"We’re especially pleased that our redemption levels continue to rise so strongly, as this reflects the quality of the borrowers out there and growing maturity of the sector. Alternative finance is becoming increasingly mainstream."