A few years ago, a business coach asked me what was my why? Why do I do what I do?
I took a while to think about and of course the first answer is I want to make some money. But when you dig deeper it is more than that. When I started providing mortgage advice in Stockton-on-Tees back in 2003, the mortgage world and markets were very different. Over the last 20 years I have seen the world money markets crash, watched banks panic and basically stop lending or made lending as difficult as possible. Slowly come back into the market only to have confidence shattered by Brexit, then a pandemic and of course the wonderful Liz Truss statement that had us all scratching our heads. But in all this time I have seen families grow, relationships made, and unfortunately break down. Every person who comes into our office has a story to tell. Sometimes joyous and sometimes sad. I never know until they turn up.
The mortgage market is forever changing, not just interest rates but also the lender’s individual criteria. What this means for clients, what was not acceptable previously now might be. Things like Universal credits, child benefit, maintenance payments not court mandated, to name a few are now acceptable. Lenders have also changed the income multiple. They claim they do not have an income multiple they use affordability now. Based on your income and outgoings. Apparently, there is a difference although I am not sure what this is, as they still lend to an average 4 times income raising to 5.5 times depending on your level of income.
The FCA our governing body, come up with new regulations all the time. The latest, being consumer duty. Consumer duty has 4 main principles. Products, Service, Price and Value. Making sure all our clients understand what we do and the outcome they should expect. For us this started a long time ago, when we made sure all our clients were given updates and ongoing reports on progression, not only when buying but also remortgaging a property. A mortgage is not just the money. It is about knowledge and understanding of what is happening and what to expect. It is why I still prefer to see clients face to face.
With the amount of fraud on the internet, I am surprised at how many people give their details to a faceless website. Most of us have had or know someone who has had their information stolen or had a potential fraud call, or email from a Prince in Zimbabwe at some point. I must get a dozen of fraud phone calls every week, asking me about my insurance, investments, or just phishing for information. Ever wondered where they get your details from? Mostly internet sites, where you have given someone your details, the details are sold on repeatedly. GDPR was meant to stop this, but I still get unwanted emails and phone calls. Don’t you? Every time you give your name, address, and date of birth on a website, you agree to them selling your details; it’s in the small print. Normally on about page 153 of 200 that you and me accept without reading. At Good Mortgage Solutions we want you to feel comfortable enough to pop in for a chat and ask any questions you may have about mortgage advice in Stockton-on-Tees.
This is one reason why we like to see people face to face, I want you to know who we are, and we want to get to know you. You need to be comfortable enough to just call over and say hi and ask whatever questions you have. Yes, we can do this over the phone and via email and we do. But it is nice sometimes to just know who you have given all your details too.
So, my WHY! Has always and will always be you. My client. Getting to know, your family, your circumstances and what you want to do and hopefully to be able to make it happen, if you are moving home, buying a home or just wanting to save money. We are here to help make sure you make the right choices. I deal with 100s of mortgage clients a year and every one of them has a story. So what’s yours? How can we help you?
All our appointments are free of charge if your mortgage is £20,000 or 1 million. Everyone deserves access to sound mortgage advice in Stockton-on-Tees and the support needed to make informed decisions for themselves and their families. Choose to work with someone you can trust, not a distant, impersonal call centre. We’re right here in your community, ready to listen and help.
Secure your financial future, and enjoy the benefits of a more affordable mortgage by contacting us. 01642671747or email paul@goodmortgagesolutoins.co.uk