With immediate effect, Drawbridge Finance has rebranded to Dragonfly Property Finance.
The funding is the same, so is the team, they’re based at the same address and have the same phone numbers, but it’s a totally different brand. So why the change and why now?
Jonathan Samuels, Dragonfly Property Finance's CEO, says:
"In recent months, we increasingly felt the name 'Drawbridge Finance' didn't really reflect what we do and how we work.
"The name suggested we were exclusively about bridging, it pigeonholed us if you like, whereas the services we offer actually extend way beyond that into buy-to-let loans, second charges and development.
"Having discussed it with the team at length, we thought it was better to act immediately and rebrand now, while we're still relatively young in the industry. The longer we waited, the more ingrained the Drawbridge brand would become and the harder it would be.
"With the launch of Dragonfly Property Finance, we have also formally launched into a fourth area, development and mezzanine finance, which we always felt we were missing at Drawbridge. Bridging will always remain at the heart of our business, yet Dragonfly is also about us spreading our wings and expanding our proposition into new areas.”
So why the name, ‘Dragonfly Property Finance’?
Jonathan Samuels explains:
"The dragonfly is a perfect representation of how we work as a business. We are agile, flexible in the way we assess applications, quick to react and very transparent in the way we operate. Also, we're always striving to do things differently and to stand out from the crowd. We felt the dragonfly embodied all of these qualities and has a certain uniqueness about it.”
To celebrate the launch of Dragonfly Property Finance and show it remains 100% committed to the broker community, Dragonfly is reducing rates across its entire product range, to as low as 0.75%pm — see accompanying literature. It is also introducing a new streamlined process to offer, which reduces the number of documents required from 10 to 4.
Within this new fast-track process, an offer can be made in little more than an hour of the application being received. All Dragonfly Property Finance needs is a completed and signed application form, photo ID for each applicant, the valuation and, for over 50% LTV loans, a copy of three months’ bank statements.
Jonathan Samuels concluded:
"Our key partners have all now been informed of the rebrand and are familiar with our new products, rates and fast-track offer process. Like us, they're really excited about the change and are keen to get funds into the market, which is what it’s all about."
