FSA approval is the latest step forward for the UK’s largest specialist lender, which currently has more than a 40% share of the short-term finance market and is on track to grow its funding base significantly by 2015.
In less than two years, Dragonfly has extended its product offering from bridging finance to second charges, buy-to-let loans and development finance — and can now add regulated loans to that list.
Between now and 1 August, Dragonfly will select 10 key partners that will broker all regulated deals during the initial roll-out. To ensure it can cope with the increased demand that will come with FSA approval, Dragonfly will be announcing some high profile industry hires in due course.
Jonathan Samuels, CEO, Dragonfly Property Finance, commented:
“To have received FSA approval is fantastic news for Dragonfly and as a fully authorised lender we intend to put our foot down even harder on the pedal. We have come a long way in our short history but we now plan to really up the ante and become a one-stop shop for brokers. As well as the prestige it confers, being FSA-approved will enable us to innovate further, which is what all our introducers want to hear.
"These days, it is harder than ever to get regulated and it is therefore a huge vote of confidence in our business model. It is also a credit to the entire team that the approval process took such a short time.”
