Fraser is surplus to requirements at Newcastle and the club have been looking at ways to offload him all summer.
He has not been part of the club’s squad at the start of the season and his representatives have been trying to find a new club for him this term.
And it has been claimed that the 29-year-old is finally on the verge of completing a loan move away from Newcastle
He is being put through a medical at Championship club Southampton at the moment ahead of a move.
A deal is in place between the two clubs that would see the winger join the Saints on loan this summer.
Once he completes the medical, Fraser will sign a one-year loan contract and spend the season at Southampton.
Russell Martin has been looking to add more experience to his squad and Fraser will bring that to the table.
He has had experience of playing in the Championship and will add more options to the Saints squad.
