Dragonfly passes £500m milestone
Short and medium term lender, Dragonfly Property Finance has announced it has redeemed more than £500m of loans since its launch in 2009. In March, the lender also passed 1500 loans completed.
Dragonfly, which launched in 2009, is targeting £1bn of loans completed during 2014. Its new commercial bridging loan range, headed by Ludo Mackenzie, and recent acquisition by Octopus Capital, will add to its momentum and enable it to target even more market share.
Jonathan Samuels, CEO, Dragonfly Property Finance, commented:
"As other firms in the sector will confirm, the first few months of 2014 have been exceptionally busy. 2013 was the biggest year yet for bridging but 2014, at the current rate of growth, should beat it hands down. We’re especially pleased that our redemption levels continue to rise so strongly, as this reflects the quality of the borrowers out there and growing maturity of the sector. Alternative finance is becoming increasingly mainstream."
Breaking news
Direct to your inbox:
More
stories
you'll love:
This week's biggest stories:
Buy-to-let
Buy-to-let market 'in transition' as landlords turn to refinancing
MPowered Mortgages
MPowered closes to new business amid potential sale
Budget
Reeves lays groundwork for tax rises in surprise pre-Budget speech
FCA
FCA bans and fines adviser £100,000
Bank Of England
Interest rates held at 4% in narrow 5-4 vote
Budget
What taxes could be raised in the Autumn Budget?
