Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.
Magnet Capital has appointed Simon Pollins as its chief financial officer as the lender builds its executive team for growth. Pollins has spent more than 30 years in property lending, with experience spanning residential mortgages, family offices, private equity, and short-term and specialist lending businesses.
In the role, Pollins will oversee the lender's finance operations, strategy and capital management, and will support co-founders Ashley Ilsen and Sam Howard with their plans for the business.
What the appointment means for intermediaries
Writing after the announcement, Pollins said he was excited to be joining Magnet Capital, noting that he has joined lending businesses at pivotal moments before and that the team's reputation sets it apart. He said he looked forward to building on the foundations already in place as the business grows.
He acknowledged that current market challenges are putting pressure on the property development industry, and said plans to strengthen the offering for intermediaries and clients would be key to ensuring positive outcomes for all involved.
Co-founder's view
Sam Howard, CEO and co-founder of Magnet Capital, said Pollins brings the kind of experience the firm was looking for, describing him as a hugely experienced finance director who also understands lending from the inside, having held senior roles within finance businesses. Howard said that combination of technical financial expertise and commercial understanding makes Pollins a real asset as Magnet continues to develop.
What it means for the market
For UK letting agents, inventory clerks and intermediaries working around short-term and specialist lending, appointments at lender level can shape how finance products and intermediary support evolve. Pollins has signalled that strengthening the offering for intermediaries and clients will be a key focus as Magnet Capital grows.
Source: Mortgage Solutions