n 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 refurb purposes to a £6m second charge. Recently, it even lent on an anaerobic digestion plant, which shows its innovative approach to lending.
With funding lines of £300m currently, and a target of £1bn in the medium-term, Dragonfly is well positioned to keep lending to people and businesses in every corner of the UK on a daily basis.
Jonathan Samuels, CEO, Dragonfly Property Finance, commented:
“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.”
