In the Spotlight with Amy Smith of North Star Financial

 

We spoke to Amy Smith of North Star Financial about Disneyworld Florida, being opinionated and setting up North Star...

 

Firstly, what exactly does your new company North Star Financial do?

North Star financial is a master packager for secured loans, bridging finance and commercial loans. We only deal business to business so have a solid introducer base.

The company is still relatively new, when did you set it up and what is your role?

North Star was set up in November 2011 so is very new. However the team we have is very experienced. I have been packaging for ten years now and have solid relationships in the industry. We also have two business development managers KatrinaTreherne (O'Rouke) - Katrina was formally of BM Solutions for 23 years and Katherine Simmons - Katherine is formally of Payment shield, Gmac, Edeus and Natwest!

What do you see happening in the secured lending industry in the next 12 months?

The industry has improved over the last 12 months and I truly believe it will get stronger over the 12 months to follow!

What have been the biggest challenges you have faced getting a new business off the ground, particularly in a difficult economic climate?

Nothing has been easy but the support I have received is amazing. One of the hardest things has been finding the right staff I have no doubt the BDMs will be successful and we made the right choices in the end. We also have Claire Adams who is our Business Administrator and we are currently looking for an underwriter; that has been the toughest role to fill! I have very high standards when it comes to this area as it’s my forte!


If you weren’t working in the secured lending industry, what do you think you would be doing instead?

I have no clue, I've done it since I left school and can't imagine doing anything else now....

What inspired you to enter the industry?

I was initially involved with mortgages and an opportunity arose around 2006 with my existing employer to move to 2nd charges and I haven't looked back since!

What’s the biggest issue you have to deal with at the moment in the secured lending area?

As any of the lenders will tell you I have an opinion on everything and I could go on for hours about what should change but I'm also realistic and only make feasible suggestions! I honestly think that the products are the best they can be at the moment but the biggest thing that restricts us is max loan sizes at certain LTVs.

Where is your favourite destination in the world and why?

Disneyworld Florida - I absolutely love the place and can't wait to take my little one.

What was the most memorable case you have ever dealt with?

I couldn't choose one, there are so many that stand out and for various reasons, mainly those cases that take that little bit extra investment to get over the line – it’s then the client that begins to stand out as you work so closely with them for a certain period.

At the moment you’re very busy running North Star, but what do you like to do when you get a bit of time off?

Time off does not exist at the moment. If I didn't have a three- year old I would have given up my Christmas!

Catch Amy's blog here