Completion fees have been reduced to 2.5% (from 3%); the ERC for term of all buy-to-let loans has been reduced to 3% in each year and the ERC-free period at the end of all loans is increased to three months from one month.
Mark Posniak, managing director, Dragonfly Property Finance, said: “As we enter a new era for Dragonfly, I felt it was important to review our entire product range and, where possible, seek to make it even more competitive.
“These adjustments to our buy-to-let proposition are the first step in that direction. During the past two years, we have completed on a large number of loans for first-time landlords, first-time buyers, ex-pats and people with hard-to-prove income.
“Coupled with our flexibility to lend on unusual assets, such as HMOs and semi-commercial properties, these improvements will help cement our position as the ‘go-to’ lender for quality buy-to-let clients that traditional High Street lenders will not serve.”
The adjustments to its buy-to-let product range come in the wake of another major milestone for Dragonfly, having announced last week that it had redeemed more than £1bn of loans since launch.