Bridging lender marks 5th anniversary with commercial expansion

Bridging lender marks 5th anniversary with commercial expansion


A principal London-based bridging finance lender, which is marking its fifth year in the industry, has confirmed that not only has it successfully relocated from The City to the West End, but that it has expanded its product range. Jason McGee-Abe spoke with Tomer Aboody, a Director from MTF, to find out more…

Are the rumours true that you moved offices last month? If so, what was the reason behind this?

We recently moved offices to 7 Hanover Square, London, W1S 1HQ. We needed more space to accommodate our growth and felt that a move out of The City and into the West End was the right one.

So tell us a bit more about MTF’s growing proposition...

We’ve been able to welcome two new additions to our Board of Directors over the past 12 months, and have also expanded our range of products.

We are also now providing bridging finance loans secured over commercial assets located in London. This new initiative was launched in September and we have already closed several transactions, the highlight being a loan secured over a restaurant in Chelsea.

Why the move into commercial?
We see commercial assets as a stronger proposition in the market now and have the expertise and experience in the sector to provide funding solutions which work. The bulk of our business is still driven by property investors who require short term finance to acquire an investment or finish a project. We have also developed a strong niche in providing finance for lease extensions and have the internal legal expertise to understand this area.    

What was the reason in changing the company’s name from MT Finance to MTF?

The slight reworking of our name and brand has followed on from a recent private equity investment secured by the company. We feel the new style more accurately reflects the institutional approach we take to everything we do.

Earlier in the year, MTF launched an exclusive bridging finance product for Europeans. How has this gone to date?

The service directed at European and foreign nationals seeking to acquire property in London has been a great success. Particularly within the banking sector, there are a significant number of French nationals, for example, who see London as an attractive investment proposition given the quite extra-ordinary yield compression which continues unabated in the Paris market. These applicants have focused on acquiring assets in prime parts of London.

What do you think about the current state of the market? Do you envisage any problems on the horizon?

Even as liquidity constraints show signs of potential easing, obtaining a mortgage offer for residential or commercial property remains an uncertain and often cumbersome task. Too often a standardised tick box approach to assessing applications is being employed by the major banks. If a case doesn’t tick one of the required boxes, banks are often no longer prepared, or equipped, to listen. It is hoped that the Funding for Lending Scheme will encourage the banks to be more commercial in their approach to lending.

This year marks MTF’s fifth year in the industry, what have been your top highlights?

Each year has brought its own opportunities and challenges and we continue to take great satisfaction from the relationships we have built with the brokerage community. Earlier this year, being chosen as one of three of Savills Private Finance’s initial select funding partners for their new bridging finance division was a highlight and reflected the clear progress the company has made since inception. We are always pleased to be nominated for industry awards and have been recognised consistently by the industry in this regard. Ultimately though every day we make a difficult case work, it creates a new highlight in our history.

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