MCIFA and Dragonfly arrange loans of £2.7m and £3.8m in one week
London, 12 January 2015 – Dragonfly Property Finance, the short- and medium-term bridging lender, has taken a £2.7m non-regulated loan and a £3.8m regulated loan from application to completion in just one week.
The loans, introduced to Dragonfly in quick succession by London-based high net worth property finance specialist, MCIFA, were used to purchase two residential properties in London.
The first, a £2.7m non-regulated loan on a £10m property in Holland Park, was completed in just five days from the initial enquiry. The second, regulated, loan of £3.8m was used on a £19m property in Hampstead, and took just six days from enquiry to completion.
Dragonfly very quickly made it clear that they were comfortable with the loans, appreciated the urgency surrounding the deals, and, working closely with MCIFA, managed to complete in an impossibly short time frame.
Knowing that the clock was against both clients, MCIFA set about driving the deal and liaising effortlessly with all relevant parties – client, surveyor, lender and lawyers – in order to move the loan through as quickly as possible.
Richard Stock, Sales Director, MCIFA, commented:
“There was a great deal of urgency to both of these deals but thankfully Dragonfly pulled out all the stops to turn them around in under a week. We work with Dragonfly regularly because they not only understand the importance of speed to our clients, but also bring an unrivalled energy to all the deals they work on.”
Mark Posniak, Head of Sales & Marketing, Dragonfly Property Finance, added:
“Key to the quick turnaround times on deals like this are the experience and expertise of the introducer, as well as their network of contacts. In both these areas, MCIFA never fail to deliver. It’s great to see that we can still turn regulated loans around at almost the same pace as unregulated loans and this, we believe, is where we offer considerable benefits over mainstream lenders.”