OakNorth completes loan facility to Lendhub worth £75m

OakNorth has completed a fund finance deal with Lendhub.

The new funding line will sit alongside Lendhub’s proprietary funds, enabling it to further extend its lending of bridging and development loans by around £75m.

Lendhub offers bridging and development loans of £100k to £5m against both residential and commercial property to individuals and corporates. The team act with speed and are able to handle complex lending proposals with short lead times.

Christopher Adamou, managing director at Lendhub, said: “We are extremely pleased to be working with OakNorth. This new funding line cements our commitment to the industry and forms an integral part of our growth plans for Lendhub.

“We hope to provide confidence, stability and consistency to our brokers and borrowers by working in partnership with such a highly regarded organisation.

“I would also like to take the opportunity to thank the team at OakNorth for the work involved in securing the partnership.”

Mohith Sondhi, debt finance director at OakNorth, added: “In a relatively short space of time, Lendhub has established itself as a successful bridging and new development business with a strong client base across London and the South East.

“This transaction demonstrates the breadth of OakNorth’s offering and the spectrum of deals we’re doing - everything from £500k transactions with owner-managed businesses to multi-million-pound loans with established SMEs, and loan-on-loan facilities to other lenders.”

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