Dragonfly redeems £200m in three years

Sarah Davidson

October 16, 2012

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 £6m second charge. Recently it lent on an anaerobic digestion plant.

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

Jonathan Samuels, CEO of Dragonfly Property Finance, said: “For us to have passed £200m 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.”

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