Dragonfly records biggest ever month for completions in December 2015
By Bridging Loan Directory
Short- and medium-term lender, Dragonfly Property Finance, part of the Octopus group, today announced it recorded its biggest month ever in December 2015.
The specialist residential and commercial lender completed on loans totalling £75.22m during the last month of the year, smashing its previous high of £68.76m in December 2014 — and setting the tone for a robust 2016.
The record-breaking December contributed to a very strong fourth quarter of 2015, up 11.4% by value on the equivalent quarter in 2014. In total, the value of completions in 2015 was 6.1% higher than in 2014.
The number of loans completed in 2015 was also higher than the previous year: Dragonfly completed on 949 loans in 2015 compared to 891 in 2014, an increase of 6.5%.
At the end of 2015, the exceptional fourth quarter performance took Dragonfly to £1.74bn of completions since launch in 2009. The lender expects to pass its next major milestone, £2bn of completions, in the first half of 2016.
Mark Posniak, Managing Director, Dragonfly Property Finance, commented:
“I’m very pleased with this fantastic end to the year, especially following the recent management changes. The fourth quarter performance, peaking in December, goes to show how focused and determined this team remains. It goes without saying that we are here to do the very best job we can for brokers and their clients, across both residential and commercial, throughout 2016.”
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