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Dragonfly gears up development finance offering

  • 27/10/2015
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Dragonfly gears up development finance offering
London-based short and medium-term lender Dragonfly Property Finance has made changes to its development product range in a bid to drive up business and branch out beyond pure bridging finance.

It has reduced its interest rate from 11% per annum to 10% and lowered the exit fee from 2% to 1%.

Dragonfly’s management team has undergone several changes in recent months. In September, Jonathan Samuels announced his intention to leave the company with Mark Posniak (pictured), former head of sales and marketing, taking over as managing director.

The lender has since employed two development relationship managers, Emma Burke and Tim Phillips and a credit manager on development finance transactions Uliana Kuzmis.

Posniak said the updates to its development products and the creation of a dedicated in-house team to support its introducers underlined its ‘massive appetite’ for growth in this area of the business.

“Our goal to significantly boost our development book reinforces Dragonfly’s evolution from a bridging lender to one with a much broader, market-wide remit,” he said.

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