Saxon Trust is proud to announce that we have significantly expanded our funding capability with a new £35m funding facility from OakNorth, the neobank for entrepreneurs, by entrepreneurs.
As traditional lenders increasingly pull back from the mid-market space, we believe this additional wholesale funding will enable us to capture additional market share.
Privately owned, our team is comprised of seasoned property professionals with decades of property investment and development experience. We have been lending successfully since 2006.
Having expanded our product range significantly since 2020, the Saxon Trust team are better placed than ever to build and maintain long-lasting relationships with our brokers, borrowers, and professional partners. We adopt a pragmatic approach to lending, tailoring the terms of every loan to the specific needs of each borrower and project.
Launched in September 2015 and founded by entrepreneurs, OakNorth provides fast, flexible, and accessible debt finance to the UK’s “Missing Middle” – established small-to-medium enterprises (SMEs) who are seeking to scale but are routinely overlooked or underserved. In the first half of this year alone, OakNorth lent nearly £900m to British businesses and has lent over £9.8b since launch, helping with the creation of 41,000 new jobs and 29,000 new homes across the UK.
Andrew Gardiner, Founding Director at Saxon Trust commented:
“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.”
Brian West, Head of Sales & Marketing at Saxon Trust added:
“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.”
Mohith Sondhi, Senior Director of Debt Finance at OakNorth, commented:
“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.