Serving the Teesside Business Community | 61
The Good guide to
the mortgage minefield
By Carrie Cosgrove
F
rom big name banks to local estate
agents and solicitors, relationships are
key for any mortgage advisor.
But for Paul Good, the most important
relationships are with his clients.
The owner of Stockton-based Good
Mortgage Solutions explains: “Most of the
people we see come to us with some sort
of problem to solve. Maybe they’ve got a
low credit score or they’re self-employed and
only have a year’s accounts.
“Our ethos is ‘Working with you, for you’,
so it’s our job to sit down with our clients
and take the time to really understand their
circumstances. That’s how we determine
which lenders are most likely to accept them
and which of those lenders’ products would
benefit them most.
“I recently helped a client to save over
£200 a month – that’s a family holiday each
year.”
It’s not just about saving people money
though. Having worked in various roles in the
industry since 2002, Paul had developed a
unique understanding of purchasing and re-
mortgaging processes.
In 2014, he established Good Mortgage
Solutions to help guide clients through from
day one to completion.
Understanding how estate agents,
solicitors and lenders work means that the
Good Mortgage Solutions team can project
manage the process of buying a property.
“We know the industry inside out,
whereas most people rarely remortgage
and many people will only buy one house in
their lifetime,” says Paul. “So we talk them
through what needs to happen at each stage.
Paul Good
established
Good Mortgage
Solutions in 2014.
Then we do whatever we can to make that
journey as smooth as possible for them.”
Of cou rse, there will always be some
unavoidable bumps along the way – when a
surveyor values a property at less than the
estate agent, for example. For Paul and his
Stockton-based team, the trick to overcoming
these hurdles is proactive communication.
“I recently helped a client to
save over £200 a month – that’s
a family holiday each year.”
They keep in regular contact with everyone
involved, so that they can deal with any
issues that crop up quickly and efficiently.
Helping clients to see the bigger picture
is the team’s priority, which is one reason
why Paul isn’t concerned by the growing
popularity of online comparison sites.
He explains: “At a glance, it’s easy to be
swayed by low interest rates, but finding the
right mortgage for you requires a lot more
than a few calculations.
“Low interest doesn’t always mean that
the product is cheaper overall, as there can
be some hefty fees involved – and they’re
difficult to compare online when different
lenders give them different names. It all
depends on your circumstances.”
That’s why any potential customers should
be prepared to discuss not only their current
situation, but also their plans for the future.
Paul continues: “We see a lot of first time
buyers, and we often meet them several
months before they’re in a position to
proceed. We help them to understand what
steps they need to take to get there and to
work out a budget that’s actually realistic for
them, not just for now but longer term too.”
And determining a budget is a big
responsibility for any mortgage broker.
There are some standard affordability
checks involved, of course, but for Paul and
his team there’s much more to it. There
are a lot of “what ifs” to consider before a
recommendation is made.
So what’s next for Good Mortgage
Solutions? More of the same, according to
Paul.
Speaking about the Brexit-shaped
challenge ahead, his reasoning is sound: “No
one knows what will happen, but people will
always want to buy houses. Even when the
market crashed in 2008, people still needed
advice.
“And for me, there’s nothing more
rewarding than sitting down with someone,
hearing their story, then helping them get the
keys to their dream home.”