Meet the Team: Simon Chapman

1.   What has been the highlight of your career at Pluto so far?

I would say drawing my largest ever loan stands out. The loan was for a client who I have worked with for over 10 years, starting with their first development; a conversion of a house into flats, and then again with their largest project to-date – a scheme comprising 100 units in West Hampstead. This utilised a loan of £45m to deliver this scheme.

The project is now completed, and the units are selling extremely fast. It is great to see and support someone I have maintained a collaborative relationship with over the years excel from the start of their journey and into the future.

2.     Can you share an example of a particularly challenging bridging loan scenario you've encountered and how you and the team navigated through it successfully?

Commercial bridge loans are not easy, in particular development site opportunities. One in particular stands out relating to a recent project in Kent. The difficulties here were that the site was an existing PH and storage facility, where our client was intending to receive planning consent for a small, mixed use light industrial scheme, comprising of 6 units. What was difficult here was that the end use value was guided by the strength of the potential commercial tenants, with terms that were not yet agreed. We had to take a view on the GDV, the construction costs and the fact it did not have planning yet to work out where we would be on leverage.

Suffice to say, our client now has planning consent, pre-lets are in place and we are about to drawdown the development loan piece.

Examples of loans like these need patience, precision and understanding of such complex issues so that we can inevitably ensure we can guide our client in the clearest possible way.

3.     What event this year are you most looking forward to?

It has to be the B&C Awards! Held every year at the Hurlingham Club, it brings together the best in our industry, and provides a platform for fostering collaboration, pioneering new ideas, and above all, it is definitely a fun night! I have attended every year since it started, and you will see Pluto Finance there again this year.

4.     Do you have any hidden talents?

Prior to getting into property finance, I was actually a trained chef. Way back in the mid 90’s, I worked in a few different restaurants, and I was second chef for a chain of Italian restaurants called Café Uno, based in Tunbridge Wells. I assisted in opening new restaurants in Brighton and Sevenoaks, training their kitchen chefs and being there for those hectic first few weeks of a new restaurant opening.

People say that Italian Food is the easiest to cook using few ingredients, but the reality is what you do with them. My signature dish has to be my Beef Ragu… I have my own secret recipe too!

5.     What is your favourite film?

Must be the Godfather trilogy, but in particular Godfather 2. One of Francis Coppola’s finest Directorships, pure class.

6.     What are the top 3 things that are influencing the market you work in at the moment?

Generally, it would have to be inflation pressures, interest rates and general uncertainty in global stability.

7.     Favourite football team?

A lot of people do know this but my team is Millwall FC. I am a season ticket holder and go to both home and away games with my son. Real football for real fans I would have to say.

8.     What’s the best kept secret about Pluto Finance?

We can beat most lenders on pricing from low to high leveraged transactions across multiple asset classes. We make a point in understanding transactions and finding solutions for complex matters… we don’t have a rate card, but price for risk.