The loan was introduced to the bridger by brokerage Mortgage Centre IFA and was completed less than four days after initial contact was made with Dragonfly.
The loan was secured against a leasehold flat and made to a limited company. The deal saw these funds used to pay off an existing loan on the flat and free up £200,000 for the business purposes.
Dragonfly will be repaid when the client’s flat, which is currently on the market, is sold.
Jonathan Samuels, CEO at Dragonfly Property Finance, stressed the importance of working with brokers who understand his firm’s products.
“Mortgage Centre IFA were on the ball throughout the application process and provided everything we needed well ahead of time. The result was that we were able to get this deal done and dusted in a matter of days. Being able to offer brokers’ clients solutions in this way is what we’re all about.
“It’s impossible to take a deal from enquiry to completion in this kind of timeframe without a broker that really understands what bridging lenders need and expect.”
Fahim Antoniades, director at Mortgage Centre IFA, added: “They have a reputation for turning deals around quickly and they didn’t disappoint. In terms of speed and efficiency, they’ve raised the bar to a different level altogether.
“Our client is extremely pleased to have freed up the funds so quickly, especially as they were required for their business. We look forward to sending more clients Dragonfly’s way in the future.”
