Across its 2, 3, 4 and 5-year buy-to-let loan terms, Dragonfly has introduced the following changes with immediate effect:
• Completion Fee reduced to 2.5% (from 3%)
• ERC for term of all B2L loans reduced to 3% in each year
• ERC-free period at the end of all loans increased to 3 months from 1 month
The adjustments to its buy-to-let product range come in the wake of another major milestone for Dragonfly: last week it announced it had redeemed more than £1bn of loans since launch.
Mark Posniak, Managing Director, Dragonfly Property Finance, commented: “As we enter a new era for Dragonfly, I felt it was important to review our entire product range and, where possible, seek to make it even more competitive. These adjustments to our buy-to-let proposition are the first step in that direction. During the past two years, we have completed on a large number of loans for first-time landlords, first-time buyers, ex-pats and people with hard-to-prove income.
Coupled with our flexibility to lend on unusual assets, such as HMOs and semi-commercial properties, these improvements will help cement our position as the ‘go-to’ lender for quality buy-to-let clients that traditional High Street lenders will not serve.”