OakNorth Bank
Challenger BankOakNorth Bank is a UK challenger bank that provides bespoke property debt, including documented purpose-built student accommodation (PBSA) development and acquisition facilities. Loans typically start from £1m. This is commercial/development debt on student blocks, not HMO mortgages.
About OakNorth Bank
OakNorth Bank plc launched in 2015 and is authorised by the PRA and regulated by the FCA and PRA (FRN 629564). The registered office is 57 Broadwick Street, London, with further operations in Manchester. OakNorth lends to established UK businesses and property sponsors with bespoke facilities, rather than high-street residential mortgages.
OakNorth’s real-estate team has publicly funded purpose-built student accommodation. Examples include a 222-bed PBSA scheme beside the University of Nottingham’s Jubilee Campus, a 361-bed PBSA scheme in Lincoln, and acquisition funding for a PBSA site at Elephant and Castle. These are block-level student schemes with professional developers and operators, not converted student HMOs.
Property facilities are typically from £1 million upwards, with LTV generally at or below 75% on published property-finance guidance. OakNorth deals with experienced developers and investors, including via professional intermediaries. This is not a consumer residential mortgage product.
Lending Focus
OakNorth Bank offers mortgage products across 4 categories including Commercial, Bridging, Development and 1 more.
Key Features
- PRA/FCA-authorised UK bank with a documented PBSA lending track record
- Bespoke facilities typically from £1m for PBSA development and acquisition
- Has funded purpose-built student blocks in Nottingham, Lincoln and London
- Relationship-led credit rather than automated HMO scorecards
- Not an HMO mortgage lender for converted student houses
Pros & Cons
Pros
- Bank balance-sheet lender with completed PBSA deals in the public domain
- Can cover acquisition and development in one structured facility
- Ticket sizes start lower than the largest institutional PBSA desks
- Direct and intermediary access for established sponsors
Cons
- –Bespoke credit — not a published high-street product matrix
- –Aimed at experienced developers, not first-time landlords
- –Minimum around £1m will not suit a single student house
Fees & Charges
- Arrangement Fee
- By arrangement on each facility
- Valuation Fee
- Independent valuation required
Mortgage Rates
Rate data coming soon. View rates on OakNorth Bank
| Product | Initial Rate | Type | Initial Term | Revert Rate |
|---|---|---|---|---|
| 2 Year Fixed | TBC | Fixed | 24 months | TBC |
| 5 Year Fixed | TBC | Fixed | 60 months | TBC |
| Tracker | TBC | Variable | 24 months | TBC |
Application Process
- Processing Time
- Bespoke bank credit — often faster than a high-street commercial process, still deal-specific
- Online DIP
- No — via broker or branch
- Offer Valid For
- As set out in the facility letter
Lending Criteria
- Maximum LTV
- 75%
- Min Loan Amount
- £1000k
- Rate Types
- variable, fixed
Frequently Asked Questions
Does OakNorth Bank lend on PBSA?
Does OakNorth lend HMO mortgages on student houses?
What size loans does OakNorth consider?
Is OakNorth regulated?
How to Apply
Direct & broker access. Apply directly or via a broker for whole-of-market access. Find a broker
Similar Lenders
View all lenders| Name | Niches | Type | Max LTV |
|---|---|---|---|
| Recognise Bank | Commercial, Bridging, Development+1 | Challenger | - |
| CrowdProperty | Commercial, Bridging, Development+1 | Specialist | 75% |
| Kuflink | Commercial, Bridging, Development+1 | Specialist | 75% |
| Octopus Real Estate | Buy-to-Let, Commercial, Bridging+3 | Specialist | 75% |
Related Articles
Practical guides and explainers from our blog — relevant to this mortgage type.
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Important: Your home may be repossessed if you do not keep up repayments on your mortgage. Information on this page is for general guidance only and does not constitute financial advice. Always verify lender details directly and seek independent advice before making financial decisions.
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