Dragonfly Property Finance, the UK’s leading short-and medium-term lender, today, 25th November, announces the completion of a £1m+ deal introduced by key partner, Y3S Bridging & Commercial.
The deal, a 12-month first charge of £1.04m at 0.95%pm, was on a derelict residential property in Surrey with a current market valuation of £1.85m.
The property will be turned into a lodge and is expected to have an open market valuation of £7m–£8m on completion. If required, Dragonfly may provide additional funding in due course.
Nathan Raffour, Director, Y3S Bridging & Commercial, commented:
“This was a pretty big deal but then Dragonfly are more than comfortable with the big deals. They’re the go-to lender for this type of loan as they have the appetite and they have the strongest funding lines in the industry. As ever, the deal went through in quick time and the client is delighted to be able to move forward with confidence.”
Mark Posniak, Head of Marketing & Operations, Dragonfly Property Finance, added:
“Given the quality of the borrower and the choice location, this deal ticked all the boxes for us. The fact that it came from Y3S meant we could hit the ground running and get the money out with the minimum of fuss. These guys know the sector inside-out and that means even the bigger and more complex deals can come together quickly.”