Dragonfly hits £2bn milestone
Short- and medium-term lender Dragonfly Property Finance has passed £2bn of loan completions since its launch in 2009.
During that period Dragonfly has incurred less than 0.1% of capital losses in the near seven years it has operated with redemptions approaching £1.4bn.
In total, Dragonfly has made over 3700 transactions to a mixture of domestic and overseas investors. However, its appetite to lend remains as strong as ever: December 2015 was its biggest single month, with completions topping £75m.
Notably, the second billion of lending was achieved in less than half the time of the first £1bn.
Mark Posniak, managing director, Dragonfly Property Finance, said:“We may be one of the biggest specialist lenders out there these days but our collective drive, hunger to lend and ability to adapt to market conditions remain as strong as they were on Day One. Our team is growing fast and is now a perfect balance of old hands and young blood that wants to make its mark. Our product range is also considerably broader than it was in the early days, although if there is one constant irrespective of loan type, it’s our focus on giving brokers and their clients certainty of lending. It’s what they value above all and is integral to our proposition.”
Simon Rogerson, CEO, Octopus, added:“Dragonfly, without a doubt, is one of the success stories of the UK alternative finance market, although anyone familiar with Mark and his team will know there’s a lot more to come yet. It has evolved considerably in recent years and now has the in-house expertise to lend to every sector of the UK real estate market throughout the debt stack, from first charge to mezzanine. Its phenomenal underwriting and instinct for risk should certainly give financial advisers and any potential investors in Octopus Choice genuine peace of mind.”