MCIFA has arranged a £1.7m bridging loan in three working days.
The loan, provided by Dragonfly Property Finance, was secured against eight properties spread across London and was being used to purchase four new properties.
MCIFA’s Fahim Antoniades approached Dragonfly Property Finance and quickly had arranged a face-to-face meeting with the client and Dragonfly’s CEO Jonathan Samuels and Mark Posniak, head of sales and marketing.
Dragonfly managed to complete the deal 72 hours later.
Antoniades said: “There was a huge amount of urgency to this deal but thankfully Dragonfly pulled out all the stops to turn it around in just three days. Their ability to make things come together in this way, and the energy they bring to deals, is unrivalled in the short-term finance industry.
“It goes without saying that our client was also very impressed. This was bridging finance in its purest form.”[pullquote]”high-octane” – Posniak[/pullquote]
Posniak added: “When we were approached by MCIFA on the Tuesday and understood the urgency of the deal we agreed to meet the client in person and were immediately 100% comfortable. This was an experienced borrower with a track record and a high quality security. We set the wheels in motion and, thanks to the diligence of MCIFA, managed to complete on the Friday.
“These kind of high-octane deals are what the Dragonfly team thrives on.”