The new funding line is designed to enable Saxon to capture an additional market share as other companies pull back from the mid-market space, said the firm.
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Brian West, head of sales and marketing at Saxon (pictured above), commented: “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, added: “This transaction represented an exciting opportunity for us to forge a close working partnership with Saxon.
“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.”
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