MT Finance founders Joshua Elash and Tomer Aboody have completed a management buy-out with £8m in funding from Triple Point Investment Management.

The pair say the move will give them full ownership of the business. 

It follows an option contract signed in November which had to be exercised before the March Budget.

The lender was established in 2008 and has completed more than £1bn in lending. 

Elash says: “This buy-out is the start of a new and exciting chapter in the story of our company and will allow the management team to now push forward with our goal and vision of making the MT Finance Group the leading property finance provider in the UK. 

“We wish to express our gratitude to the teams at Triple Point, EY and Ashurst for their tireless assistance, day and night, in getting this done under the tightest of time constraints.”

Triple Point’s Reece Digance adds: “We are excited to partner with MT Finance to support the buy-out. 

“It was clear to us from the outset that MT Finance’s customer proposition is first class, supported by technology, customer service, and speed of execution. 

“We look forward to supporting the business’ ambitions in the near future.”