Dragonfly makes key changes to BTL range

Across its 2, 3, 4 and 5-year buy-to-let loan terms, Dragonfly has reduced its completion fee to 2.5% (from 3%), reduced its early repayment charge for BTL loans to 3% in each year, and extended the ERC-free period at the end of all loans to 3 months.

The adjustments to its buy-to-let product range come in the wake of another major milestone for Dragonfly: last week it announced it had redeemed more than £1bn of loans since launch.

Mark Posniak, Managing Director, Dragonfly Property Finance, commented:

“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.”