OakNorth Bank has increased its existing facility by £20m with RAW Mortgage Fund.
RAW Mortgage Fund provides buy-to-let property loans against residential real estate in the UK.
The fund has completed over 350 loans since its launch at an average loan to valuation ratio of 47%.
OakNorth Bank lends £20m to RAW Mortgage Fund
It has achieved a net return for institutional investors of 4.43% in 2020.
Tim Parkes, managing director and lead fund manager, RAW Mortgage Fund, said: “We’ve continued to invest in process automation, adding new functionality that’s helped us maintain our speed and efficiency as we’ve scaled.
“We will continue to scale our team and processes in line with the envisaged growth of the fund and are grateful for OakNorth Bank’s continued support.
“Since we completed the initial part of this transaction together, the team have done several funds finance deals, so their depth and breadth of expertise in this space continues to grow.”