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.