OakNorth Bank completes additional £20m loan-on-loan facility to Hilltop Credit Partners

by | Sep 7, 2020

OakNorth Bank – the UK bank powered by the OakNorth platform – has completed an additional £20m loan-on-loan facility to Hilltop Credit Partners. The newly increased £50m loan-on-loan facility will support Hilltop’s fast growing real estate development funding pipeline.  

Since its launch two years ago, Hilltop Credit Partners has been helping housing developers who know their local markets but need access to tailored financing solutions to fund their projects. Hilltop’s management team includes former developers and finance experts, and together they have successfully originated and managed value-add and opportunistic residential deals through challenging market cycles.  The fund is backed by the global real estate investment firm Round Hill Capital. 

OakNorth Bank logo

Mohith Sondhi, Senior Director, Debt Finance at OakNorth Bank, said: 

“Our deep knowledge of the property sector and the ability to provide an attractive financing package tailored to Hilltop’s requirements, helped us to distinguish ourselves throughout the competitive process. We look forward to building further on our partnership with Hilltop Credit Partners. Combined with Round Hill Capital’s commitment and expertise in this space, Hilltop understands what it’s like to be in the developer’s shoes and how important it is to react to the inevitable market changes that can occur during a project especially during these unprecedented times.”  

Tiger Craft, Partner and CIO at Hilltop Credit Partners said: 

“Demand from residential developers continues to be strong, and we are encouraged by the strength we have seen in the UK residential market over the past several months. We have a growing pipeline with great sponsors, while the structural imbalance between the demand for new housing and the availability of capital to fund it continues to grow. For SME developers, securing funding has been needlessly frustrating, time-consuming and expensive for far too long. At Hilltop, our entire process is focused on helping developers move quickly to acquire sites, build homes and sell them in a fast, cost-efficient manner.  

Paul Oberschneider, CEO at Hilltop Credit Partners, added: 

“We are delighted to have increased our facility with OakNorth Bank, which shows their confidence and commitment to our business. Like us, they have a demonstrable understanding of the needs of sophisticated investors, and with property comprising a significant portion of their own lending portfolio, they have a deep understanding of the underlying asset class. This sets OakNorth Bank apart from many of the other banks in the market.”  

0 Comments

Interesting article? Put our experience to work…

3 Common Issues That Can Cause Drawdown Delays

Once you have your property development finance package in place and your scheme is progressing, it’s vital that...

Is Outdoor Space More Important Than Indoor Space?

The coronavirus pandemic has transformed how we think about living space. Previously, many people prioritised location, such as proximity...

Regional vs London Property Markets – Performance and Outlook

In 2020, regional house prices in England rose 8.2%, their best performance in 15 years. This is double the 4.1% annual gain of the London...

The Trials And Tribulations Of The Mezzanine Finance Piece in the Capital Stack (Real-life Case Studies)

You’re a property development business building your capital stack. Your equity and senior are in place, and now you’re approaching...

Houses or Flats – What to Build?

In the UK real estate market, the rule of thumb is that you build flats in city centres and houses in suburban, semi-rural and rural...

4 Key Metrics to Stress Test when Assessing a Property Deal

The best development finance lenders will scrutinise your property deal when deciding whether to partner with you and what loan rates...

Traditional Development Finance Lenders vs Progressive Funding Partners? 5 Big Differences

In the 13 years since the global financial crisis, there’s been a dramatic change in property development finance. Where once banks acted...

Residential Property Market Update And Opinion – June 2021

The UK residential property market recorded another significant increase in prices in May. The Nationwide announced a 1.8% month-on-month...

As seen in...

Fintech Finance logo
Logo - CoStar
Logo - Business Leader
Logo - Development Finance Today
Logo - Real Estate Capital
Logo - CoStar
Logo - Business Leader
Logo - Development Finance Today
Logo - Real Estate Capital
Logo - CoStar
Logo - Business Leader
Logo - Development Finance Today
Logo - Bridging Loan Directory
Logo - Property Week
Logo - IPE Real Assets
Logo - Business Daily News

Register your interest here

 

Let’s talk! Get in touch on +44 (0) 203 903 6369 
or leave us a message below and we’ll get right back to you.

13 + 4 =

  • Share This