2015-founded neobank OakNorth has provided a £35 million warehouse facility to property development and bridging finance provider Saxon Trust.

Warehouse facilities have traditionally been the business of investment banks, and have often been an intermediate step towards using the warehoused assets for public capital markets securitisation deals.

By building capabilities and clients in these markets, neobanks may be able to start to use these warehouse facilities to expand into primary debt capital markets investment banking work in the next few years.