Meet Tomer Aboody & Joshua Elash, changing the Property Finance sector

Founded by Tomer Aboody and Joshua Elash, MT Finance is a specialist finance company in the UK offering non-bank financial alternatives including bridging loans. Unlike traditional lenders, MT Finance can offer funds fast, usually within 2-4 weeks of application approval.

The company was founded in 2008 with Aboody and Elash both recognising a lack of financial options available, particularly for small businesses and within the property sector. Strict lending criteria from traditional banks rendered it near impossible to receive a loan.

Both founders boasted relevant experience: Joshua Elash had previously worked in France, in a large real estate investment fund and Tomer Aboody came from a background in property finance including property investments and trading. Elash also had a legal background having previously worked as an attorney in New York, gravitating towards the bridging finance sector following a lack of liquidity after the 2008 financial crisis.

MT Finance’s speciality field is bridging finance. A rapidly-growing area of loans, bridging finance helps to support people in limbo between a purchase and a sale. Bridging finance provides financial support between transactions and can be repaid once the sale is complete. The sector has grown exponentially in the last decade and was valued at an estimated £7 billion in 2019.

Bridging can hugely benefit individuals, developers or investors who are looking for a more flexible financial solution than that of traditional lenders. With bridging finance, they can buy a property upfront, securing funds nearly immediately rather than the long-winded mortgage process. This is often known as specialist finance or non banking alternatives, regularly considered to be the speciality of challenger banks.

It can also benefit those buying property at auction as it enables you to receive the funds within the 28-day deadline and promises a quick turnaround time for purchase, renovation and even resale. Once sold, borrowers can repay the loan flexibly over 1-24 months.

MT Finance’s mission is to offer short-term loans which are “fast, flexible and stress free”. The company want to approve loans within a matter of days, aiming to “cut through delays and deliver your funds exactly when, and how, they are needed.”

The co-founders of MT Finance pride themselves on a high-quality customer service and a personalised approach for each application. Their client relationships are paramount in everything that they do. This is evident in their multiple awards acknowledging their commitment to customer service. In 2019, they were awarded Financial Reporter and Mortgage Strategy’s Best Short Term Lender as well as the Business MoneyFacts Best Service.

After securing funds in 2018 of £50 million from Insight Investment-managed funds, coupled with mezzanine funding from an anonymous UK fund manager, MT Finance was able to expand. Based in London, their head office now has over 40 members of staff.