Dragonfly launches 2-year buy-to-let at 6.99%

John Hewitt Jones

September 26, 2016

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Dragonfly Property Finance has expanded its buy-to-let range with a 2-year loan at a rate of 6.99%.

The arrangement fee on the new 2-year buy-to-let product remains at 2.5% and the minimum loan size is £50,000, up to a maximum of £1.5m.

The new product allows borrowers to defer 2% of the interest to be paid on redemption of the loan, reducing the rate to 4.99%

CML: Borrowing up, but buy-to-let falters

D’mitri Zaprzala, head of sales at Dragonfly Property Finance, said: “Securing a buy-to-let mortgage from a high street lender is becoming harder by the day, especially for non-standard landlords. But this is a lending gap we are more than happy to fill.

“At Dragonfly, we pride ourselves on being able to take a view on individual borrowers, however unusual their circumstances or requirements. We don’t box tick but look at each application on its merit and make a decision based on that. At a time when mainstream lenders are tightening their buy-to-let criteria, we are open for business and this latest product launch will hopefully make that very clear to brokers.”