You are here: Home - News -

Dragonfly passes £1bn lending mark

by:
  • 28/07/2014
  • 0
Dragonfly passes £1bn lending mark
Bridging lender Dragonfly Property Finance has broken through the £1bn lending mark after launching in 2009.

The short and medium-term lender has advanced in excess of 1,500 loans predominantly for residential projects but its commercial division is beginning to make significant contributions to its loan book.

Jonathan Samuels (pictured), chief executive of Dragonfly, said: “We have come a long way since our initial £25m tranche back in 2009.

“The speed with which that £25m was invested set the tone for the next five years as borrowers, rejected by the high street, increasingly turned to alternative lenders to meet their needs.”

Dragonfly’s next lending target is to achieve £2bn of lending by the end of 2015 helped by the growth of its commercial lending division.

Reports suggest gross bridging lending topped the £2bn mark in the twelve months to March which represents an increase of 26% compared to the previous 12 months.

 

There are 0 Comment(s)

You may also be interested in

Read previous post:
Housing market flat in June – Land Registry

House prices in June were 6.4% higher than a year ago although the market saw no growth between May and...

Close