OakNorth Bank completes £20M loan to RAW
OakNorth Bank – the UK bank powered by OakNorth – has provided a £20m loan to the RAW Mortgage Fund, a specialist fund providing buy-to-let property loans against residential real estate in the UK.
Founded in May 2015, the RAW Mortgage Fund will use the finance from OakNorth as a liquidity line. The Fund, which has originated over 200 loans since launch at an average valuation of only 48%, aims to provide an attractive and consistent level of dividend income or capital growth through direct mortgage lending on UK residential buy-to-let properties.
Its loans are originated, serviced and actively managed by, RAW Capital Partners, an innovative Guernsey-based asset management group which offers two funds: the RAW Mortgage Fund and the RAW Sterling Cash Deposit Fund – a high interest, highly diversified bank deposit fund which invests solely in a range of bank deposits and certificates of deposit with high-quality banking institutions.
Law firm Collas Crill acted for RAW Capital Partners and the RAW Mortgage Fund assisting with securing the finance facility from OakNorth Bank Plc