The funding will support the lender by building on its existing funding arrangements, allowing it to support more non-standard mortgage borrowers as well as the second charge market.
Norton Home Loans said this came as the lender was going through a period of “positive change”, including a programme to invest in its technology and plans to move to new premises.
Norton was advised on the transaction by NIB Advisors and supported by its legal team at Pinsent Masons.
Paul Stringer (pictured), co-CEO of Norton Group, said: “This facility marks an important step in the next phase of Norton Home Loans’ growth and gives us the capacity to continue evolving our product offering. It will help our introducers place more customers with confidence, while allowing us to keep identifying opportunities within the specialist lending market.
“We’d like to thank the team at Citi for their support in helping us deliver this milestone.”
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In October, Norton Group announced the appointment of Emma-Jane Savory as its head of risk and compliance.
