Dragonfly cuts development loan pricing

Dragonfly Property Finance has reduced the pricing in its development loan range.

The lender, which is part of Octopus Investments, has reduced the interest rate from 11% to 10% and cut the exit free from 2% of the loan facility to 1%.

The changes follow the announcement that Emma Burke and Tim Philips would be joining the lender as development relationship managers. Uliana Kuzmis has also joined as a credit manager on development finance deals.

“These competitive updates to our development products, and the creation of a dedicated in-house team to better support our introducers, underline the massive appetite we have to grow this area of our business,” said Mark Posniak, Dragonfly’s managing director.

He added that the focus on development was part of Dragonfly’s evolution from a bridging lender to one with a much wider remit.

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