Short and medium-term lender Dragonfly Property Finance says it has passed £100 million of redemptions since it launched in late 2009.

£24 million of that amount occurred in the third quarter of 2011 alone.

Mark Posniak, head of marketing and operations at Dragonfly Property Finance, said: “The bridging market has gone from strength to strength over the past two years and the fact we have hit £100 million of redemptions