Forsters advises OakNorth on the increase of its facility to Hayfield
Forsters' Real Estate Finance team acted for OakNorth on the increase of its funding facility for five-star housebuilder Hayfield. Partner, Simon Collins, and Senior Associate, Dominic Lintner, have acted on the facility from its inception in 2020.
The previous loan was capped at £50 million. OakNorth has now provided a further £17 million.
Hayfield will use the additional funds to buy new sites around middle England and the commuter belt, to increase development to 500 homes a year. Hayfield currently has more than 400 homes under construction, a further 400 consented and over 1,000 homes in the pipeline.
Simon Collins commented: "It was great to work with and advise our long-standing client OakNorth on the increase of their facility to Hayfield and provide the support SME housebuilders require. The Forsters team were delighted to be involved on such an important deal."