Drawbridge rebrands to Dragonfly
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Drawbridge Finance has today rebranded as Dragonfly Property Finance and cut a number of its rates.
Jonathan Samuels, chief executive officer of Dragonfly, says: “The old name Drawbridge suggested we were exclusively about bridging and it pigeonholed us. The services we offer include buy-to-let loans and second charges and we have formally launched into development and mezzanine finance.”
Samuels says he chose the name Dragonfly because the firm views itself as agile, flexible and transparant to deal with, qualities it felt were embodied by the name dragonfly.
To coincide with the new name, the lender has reduced rates and is offering a residential bridging rate of 0.85% per month, up to 70% LTV, with a facility fee of 2%, for a maximum term of 12 months.
It has also launched a fast-track process, Dragonfly fast-track, which reduces the number of documents required from 10 to four and an offer can be made in roughly one hour of an application being received.
All it needs is a completed and signed application form, photo ID for each applicant, the valuation and for deals above 50% LTV, a copy of three months’ bank statements.
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Readers' comments (1)
Michael Clapper | 4 Apr 2011 5:54 pm
A great business and clever re-brand. Jonathan and his team keep going from strength to strength, while others seem to losing momentum..best of luck to all concerned with Dragonfly!
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