Octopus-backed short- and medium-term lender Dragonfly Property Finance has unveiled a “radical overhaul” of its residential refurbishment products.
Previously, the lender’s refurb loans were capped at 70% LTV, after the deduction of all interest accrued during the term of the loan. Their new LTV extends to 75% excluding interest, which is added monthly.
The loans come with a 2% arrangement fee, an exit fee of 2% and charge interest at 11% pa. Alternatively, borrowers can opt to pay a 2% initial fee, interest of 1.15% per month and avoid the
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