Teesside Money are an independent Mortgage broker based in the North East of England specialising in Later Life lending, Mortgages and Protection.
When we set up Teesside Money in November 2017 it was decided that later life lending would be our main focus area as we felt this area of financial services was often mis represented and was a fantastic product for the right client.
Steve Paterson had come from a background of later life lending having worked on Money Advice Service contract, focused his area of expertise around Equity release and associated later life products.
We now have 5 advisers and an administrator and plan to expand our team and presence over the coming years.
Teesside Money are a customer focused team of advisers and this might sound like a cliché but we thrive on customer satisfaction and ensuring our clients get the right outcome for them every time, whatever that may be. This means being prepared to walk away from any business which is not suitable and treating our clients in the same way we would like to be treated.
From the outset, we took the decision to complete a home visit on every Equity release case. This can often involve an 800 mile round trip for us being based on the North East. However, we feel this is essential for the client and for us. Greater care needs to be taken as clients can vulnerable and the products are complex. We have experience where a client has sounded fine and perfectly lucid over the phone, only to discover an area of concern during a face to face meeting. For us, if we can meet every client face to face it minimises the risk for both parties, it also gives us the best opportunity to explain such a complex product to the client and their families where appropriate.
This leads on to our High Street premises. It’s no secret that most companies are moving away from the High Street. We decided to go against the grain and open up a high street shop. This gives us a face in the town and gives another opportunity for our clients to come in and speak to us face to face. Many of our clients prefer to come into our office, have a cup of tea and discuss their situation with no pressure. We always say the Later life business for us is a slow burner, clients call in to discuss the product with a real person, go away and think about it and maybe call in next time they are in town. 6 months later we might be submitting an application.
We have set about building relationships with some of the later life charities in the area such as Age UK and we do what we can when we can, when we can to strengthen the relationship.