Saxon Trust has significantly expanded its funding capability with a new £35m funding facility from OakNorth.
The London based specialist bridging and development lender believes this additional wholesale funding will enable it to capture additional market share.
Privately owned, the Saxon Trust team is comprised of seasoned property professionals with decades of property investment and development experience. They have been lending since 2006.
Andrew Gardiner, founding director at Saxon Trust, said: “Against a backdrop of continued economic uncertainty and rising interest rates this new funding line, in strategic partnership with OakNorth, underlines our commitment to our clients, our brokers and indeed to the wider market.”
Mohith Sondhi, senior director of debt finance at OakNorth, added: “This transaction represented an exciting opportunity for us to forge a close working partnership with Saxon Trust. Since its launch in 2006, Saxon’s team has built up an impressive reputation and experience, having traded successfully through several market cycles. We are delighted to be working with them as they look to take their business to the next level.”
Brian West, head of sales & marketing at Saxon Trust, said: “The team at OakNorth quickly understood our diverse product offering from bridging loans, refurbs and conversions right through to ground up development projects and development exits, and we are delighted that they are backing us strongly to grow volumes across our entire product range.”