Mortgage News
Drawbridge rebrands to Dragonfly and cuts rates
Drawbridge Finance has rebranded to Dragonfly Property Finance and is celebrating by reducing its rates and launching a fast-track offer service.
Chief executive officer, Jonathan Samuels said: “We felt the name Drawbridge Finance didn’t reflect what we do and how we work.
“The name suggested we were exclusively about bridging, whereas the services we offer extend way beyond that into buy-to-let loans, second charges and development.”
To coincide with the launch, the lender has extended its business into development and mezzanine finance.
It is also reducing its rates across its product range and introducing a streamlined process to offer, which reduces the number of documents required from 10 to 4.
Within this fast-track process, an offer can be made within an hour of the application being received.
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In return, Dragonfly Property Finance will require a completed and signed application form, photo ID for each applicant, the valuation and for loans over 50% LTV, a copy of three months’ bank statements.
Samuels added: “Our key partners have all been informed of the rebrand and are familiar with our new products, rates and fast-track process. Like us, they’re really excited about the change and are keen to get funds into the market.”