London credit partner secures £20m of additional funding from UK bank

A London funding partner has announced that it has received £20m of funding from a UK bank to help support the growth of its pipeline.

Hilltop Credit Partners, based in the West End, has secured the loan-on-loan facility from OakNorth Bank

Hilltop Credit Partners specialises in funding small and mid-sized residential property developers and housebuilders across Britain. The newly increased £50m loan-on-loan facility will support Hilltop’s growing real estate development funding pipeline.

The fund is backed by the global real estate investment firm Round Hill Capital.

Mohith Sondhi, senior director of debt finance at OakNorth Bank, commented: “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.”

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.”