Walkers' Guernsey Fund Finance team has advised OakNorth
Bank Plc on a £20 million finance facility for RAW Mortgage
Fund. Founded in 2015, OakNorth Bank is expanding rapidly and today
is one of the most active lenders in the UK having lent circa
£4bn to date.
A Walkers team including partner Kate Storey and senior counsel Zoë Hallam advised on the Guernsey-law aspects of the facility and security arrangements, alongside instructing counsel Pinsent Masons LLP.
RAW Mortgage Fund provides loans for buy-to-let properties secured against UK real estate assets. The fund is based in Guernsey.
Walkers' Channel Islands' Fund Finance team includes lawyers in Jersey and Guernsey with prior experience working in London and Cayman, and who have significant expertise advising on fund financing deals in respect of the UK and US markets.
Kate said: "We continue to advise a significant number of lenders and borrowers on investment and financing arrangements in the funds and real estate sectors. Guernsey is a popular structuring choice for UK real estate investment and we are very pleased to have been able to support OakNorth Bank and RAW Capital Partners on this transaction."
Walkers continues to expand its Guernsey investment funds and finance teams – Zoë transferred to the Guernsey team in January this year after eight years with the firm's market leading fund finance practice in Cayman as one of a series of arrivals that has seen lawyer headcount rise by 50% in the last 12 months.