Saxon Trust secures £35m funding line from OakNorth

The specialist lender said this cash injection would help it to gain additional market share as traditional lenders withdraw from the mid-market space. 

Saxon Trust is privately owned and run by a team of property professionals. The lender has been expanding its product range since 2020 with the launch of a stepped bridging product and development exit loans last year. 

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.”    

Brian West, head of sales and 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, said: “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.”