RAW Mortgage Fund will use the finance from the specialist bank as a liquidity line.

Since launching in 2015, the fund has originated more than 200 loans at an average valuation of 48%.

Its parent company RAW Capital Partners originates, manages and services the fund’s loans.

“It was a pleasure to work with Mo [Mohith Sondhi] and the team – OakNorth Bank has done a fair amount of property lending itself so has a great understanding of the sector, the performance of property assets and can structure a facility which is suitable for our fund,” said Tim Parkes, managing director and lead fund manager at RAW Mortgage Fund.

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Mohith Sondhi, senior director of debt finance at OakNorth (pictured above), added: “The RAW Mortgage Fund’s directors have over 100 years combined experience between them from a variety of disciplines, including banking, asset management, broking, insurance and accounting.

“This experience has clearly paid off as they’ve been able to provide very consistent returns to investors, provided from the interest payable on mortgage loans, since the fund’s launch in May 2015.

“With a heavily diversified portfolio backed by the UK residential property market, we look forward to watching the fund’s continued growth and working with Tim and Richard [Avery-Wright, director at RAW Mortgage Fund] on future transactions.”