Dragonfly Property Finance has reported that it passed £500 million of lending since launch, last month.

To date, it has completed on more than 900 loans and has the target of reaching £1 billion of lending within the next 12–18 months.

“To pass £500 million is not just a major milestone for us but reflects the spiralling demand for short-term finance, especially among people who have never used it before,” said Jonathan Samuels (pictured), CEO of Dragonfly Property Finance.

“With mainstream lenders still deeply cautious about anything slightly out-of-the-box, people have inevitably turned to alternative finance providers to achieve their goals. There’s no reason to think the sector won’t continue to grow strongly in the years ahead.”