Gareth Davies recounts his 16-year path in the financial services industry
“I’m a people person: I enjoy speaking to people and I enjoy helping people out,” Gareth Davies (pictured), director at Southhampton-based South Coast Mortgage Services, replied when asked what he likes most about what he does. And helping people out was what eventually led him to a career in an industry that he never expected to work in.
In 2006, Davies went along to a group interview to help a friend. There, he was unexpectantly offered a job that kickstarted a 16-year career in financial services.
He initially worked in an employed environment, first as secured loan adviser and underwriter in a Hampshire-based firm. He then took on the senior mortgage adviser role at Countrywide Mortgage Services before joining London Road Wealth Management as mortgage and protection adviser.
Davies decided to go out on his own in 2013, in order to offer a more bespoke, tailored and individual service to his clients. He established his own mortgage broker firm, South Coast Mortgage Services.
“It’s nice having the responsibility that the business is yours,” Davies said on launching his own business. “The pressure and the responsibility of having your own business is arguably much more than when in an employed role, but it’s pressure you put on yourself, and so I think you deal with it in a different way to being set targets by managers.”
Davies proudly said that, at South Coast, they look at all aspects of mortgage advice from lenders across the market.
“Everything from first-time buyers through to experienced portfolio landlords, to business owners needing to maximise their borrowing potential sing business profits,” he added. “Personally, I also specialise in later life lending for the over-55s, such as retirement interest-only mortgages, equity release, and lifetime mortgages – a fast-growing sector within the industry.
“We also look at all associated insurances to ensure our clients have provisions in place should life not quite go to plan – life insurance, critical illness cover, income protection, group employer schemes.”
Davies shared that he has clients that he has dealt with now for well over 10 years, and fortunately, they always come back.
“We retain close to 90% of our client base,” he said. “If we deal with them today, and they’re due to remortgage in two years’ time, the vast majority will come back to us.
“I think the reason for that is the service we provide. We keep in contact with them, we send out reminders, we have social media, we make it easy – client retention is very good for us.”
Davies added that one of their biggest sources of business is referrals from those loyal clients.
“We have entire families that we deal with – parents, siblings, cousins,” he related. “That word of mouth and referral is massive for us, and for me, it’s a testament to the fact that we provide a fantastic service.
“I think the reason we get referrals is because we keep things simple, and we keep things real. We appreciate the fact that it’s difficult to get your first property, but at the same time, there is more to life than owning a house and having a mortgage.”
Davies said that he always reminds clients that there is no point in paying the mortgage off as quickly as possible if it is going to mean that they are not able to enjoy life as well.
“We’re quite open with people about that. It’s about striking a balance,” he stressed. “Sometimes people can overthink a mortgage. It’s incredibly important to make the right decision, but we’re here to help make that right decision.”
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