Paul Dorward - Mortgage Adviser

24/03/2026

We have been using an app for the last 12 months with clients, that gives you the ability to message us directly with clients, share documents securely and track application progress.

The app can also hold an Agreement in Principle Certificate, in case you need to share it with an estate agent, and you'll also get a lovely message on your birthday!

When your mortgage goes live, you can get an estimated outstanding balance and track the time left on any introductory rate with your current lender - making it more likely that you can sort a remortgage out in good time and avoid slipping on to a higher Standard Variable Rate mortgage.

If you want to download the app and take a look at it for yourself, you can click this link: https://mortgagewallet.chottu.link/801503

08/05/2025

The Bank of England Cuts Interest Rates to 4.25%

What this could mean for your mortgage — and your next steps.
In a move widely anticipated by markets, the Bank of England has reduced the base interest rate from 4.50% to 4.25% today.

This will be the second rate cut of 2025 following a prolonged period of increases, where rates peaked at a 16-year high. It’s a key signal that the tide may be turning for borrowers, and many lenders may now respond with new, more competitive mortgage deals.

What This Means for You
- If you’re on a fixed-rate mortgage: There’s no immediate change to your monthly payments. But lower base rates often lead to improved fixed-rate offers. If your current deal ends soon, now is the perfect time to start exploring your options before the market moves further.
- If you’re on a tracker, variable, or SVR mortgage: You may see your monthly payments come down soon, depending on your lender and specific product. This could provide welcome breathing space after a period of higher costs.

Let’s Help You Make the Most of It

This rate change presents a real opportunity to review your current mortgage or plan your next steps with confidence. Whether you’re remortgaging, moving home, or buying for the first time, we can help you:
• Understand how today’s rate change affects your deal
• Explore new fixed or tracker options
• Get ahead of potential lender movements
We’ll cut through the noise and offer clear, personalised advice tailored to your goals.

Please note, your home may be repossessed if you do not keep up repayments on your mortgage.

All the information in this article is correct as of the publish date 8th May 2025. The opinions expressed in this publication are those of the authors. The information provided in this article, including text, graphics and images does not, and is not intended to, substitute advice; instead, all information, content and materials available in this article are for general informational purposes only. Information in this article may not constitute the most up-to-date legal or other information.

27/02/2025

Is Your 2-Year Fixed Rate Coming to an End? Let’s See if You Could Get a Better Deal

If your two-year fixed mortgage is about to expire, you might potentially be in for some positive news. Back in early 2023, many borrowers locked into deals with interest rates as high as 6.86%, as the Bank of England battled stubborn inflation with relentless interest rate hikes1. Now, however, the tables have turned—and you could be paying much less when you remortgage.

The latest figures2 show that the Bank of England cut its base rate to 4.5% in February 2025, marking a sharp drop from its peak of 5.25% last year. Lenders have responded swiftly, with big names like Santander and Halifax slashing their mortgage rates. In fact, Santander has just launched a 3.99% fixed-rate mortgage, the first sub-4% deal seen in months2.

What’s Happening to Mortgage Rates?

Mortgage rates are significantly lower than they were during some of the highly volatile periods of the last couple of years, but have bobbed up and down, as markets have been hesitant in how quickly they expect rates to come down, according to industry analysts.3

According to Moneyfacts4, the average two-year fixed rate peaked at 6.86% in 2023—one of the highest levels in more than a decade. But as of February 2025, some of the best deals are now hovering between 4.13% and 4.23%, though this is still higher than the 2.25% average seen in 2021 when, interest rates were at historic lows5.

Why Mortgage Advice Matters More Than Ever

Securing a mortgage deal isn’t just about finding the lowest interest rate – it’s about ensuring the mortgage works for your personal circumstances now and in the future. We’re here to help find you the deals that match your needs, from a comprehensive panel of lenders across the marketplace.

With such a wide range of lenders, and deals that fluctuate regularly, navigating the mortgage market alone can be overwhelming, so it’s worth getting in touch so we can help you on the journey to find a deal that most closely fits your circumstances, and long-term goals.

Protecting your Lifestyle

The advice doesn’t just stop there. We’re also passionate about keeping you and your family protected. Afterall, a mortgage is one of the biggest financial commitments you’ll make, but what happens if something unexpected occurs? A home without protection is like buying a Ferrari without brakes – it looks great, but if something goes wrong, you’re at serious risk.

We can help you look at the fuller picture, including options for insurance and protection, so you and your family can remain financially secure, despite what life tries to throw your way.

What Should You Do If You’re Remortgaging?

If your current deal expires in the next six months, don’t wait until the last minute. Many lenders allow borrowers to lock in a new rate now, which means you can secure today’s lower rates while keeping an eye on further potential drops.

Consider these steps:

Compare current rates: The best deals can disappear quickly, so acting fast could save you money. Take a look at our mortgage calculator, or get in touch with us today.
Two-year or five-year fix? A shorter fix gives flexibility if rates drop further, but a five-year fix locks in stability.
Speak to a mortgage expert: Professional advice ensures you secure the right mortgage for your financial future.
Final Thought – Act Before It’s Too Late

The mortgage market is shifting rapidly, and while rates have fallen, they may not stay this low forever. If you’re among the millions remortgaging this year, securing a deal now could mean a substantial saving, so don’t get caught out, and speak to us today to see how we can help to find the most suitable deal for your needs.

Your home/property may be repossessed if you do not keep up repayments on your mortgage.

Sources

The Guardian (2023) Average UK two-year fixed mortgage rate drops below 6% to six-month low. Available at: https://www.theguardian.com/money/2023/dec/08/average-uk-two-year-fixed-mortgage-rate-drops-below-6-per-cent-six-month-low [Accessed 12th Feb 2025]
The Guardian (2025) Boost for UK borrowers as Santander ‘fires starting gun’ on mortgage price war. Available at: https://www.theguardian.com/money/2025/feb/11/boost-uk-borrowers-santander-fires-starting-gun-mortgage-price-war [Accessed 12th Feb 2025]
Moneyweek (2025) Will mortgage rates fall this year?. Available at: https://moneyweek.com/personal-finance/mortgages/latest-UK-mortgage-rates [Accessed 12th Feb 2025]
Moneyfacts (2023) Moneyfacts Year in Review 2023 – Mortgages. Available at: https://www.moneyfactsgroup.co.uk/media-centre/consumer/moneyfacts-year-in-review-2023-mortgages [Accessed 12th Feb 2025]
This is Money (2025) What next for mortgage rates – and how long should you fix for?. Available at: https://www.thisismoney.co.uk/money/mortgageshome/article-1687576/What-mortgage-rates.html [Accessed 12th Feb 2025]
All the information in this article is correct as of the publish date 27th February 2025. The opinions expressed in this publication are those of the authors. The information provided in this article, including text, graphics and images does not, and is not intended to, substitute advice; instead, all information, content, and materials available in this article are for general informational purposes only. Information in this article may not constitute the most up-to-date legal or other information. Please be aware that by clicking on to any of the above links you are leaving our website. Please note that neither we nor HL Partnership Limited are responsible for the accuracy of the information contained within the linked site(s) accessible from this page.

06/02/2025

The Bank of England has reduced the Base Rate to 4.50% today. To understand a little more about what that might mean for you, please click on the link below and take a look at the newsletter that was sent to clients today.

This is the second reduction in interest rates in recent times, following a long period of interest rate rises, where they peaked at a 16-year high of 5.25%.2

07/11/2024

The Bank of England Reduces Interest Rates to 4.75%

The Bank of England has announced that interest rates are to be reduced again, this time going down to 4.75% (1).

This is the second reduction in interest rates in recent times, following a long period of interest rate rises, where they peaked at a 16-year high of 5.25%. (2)

"What could the rate reduction announcement mean for my mortgage?"

If you have a fixed-rate mortgage then there won’t be any immediate changes, however reductions in the Bank of England base rate may mean that lenders start to offer more attractive deals in the coming months ahead. If you have a fixed-rate mortgage period coming to an end soon, then it’s the ideal time to get in touch to discuss your options accordingly.
If you have a variable-rate mortgage, have a Bank of England tracker mortgage, or are on the Standard Variable Rate (SVR), then you may start to see changes to your monthly mortgage repayments, depending upon your lender and the deal that you have.

Let us see how we can help

We are here to provide you with the advice and guidance you need, and help with any queries you may have. There’s an overwhelming amount of information online, and some of it can be conflicting or confusing, so this is where we are here to help you.

We would recommend that you contact us to let us look at your individual circumstances and provide bespoke information to allow you to make educated decisions.

It’s the ideal time to talk about your mortgage

The mortgage market is constantly evolving, and it’s a great time to start looking at your mortgage, whether you’re looking at moving home or have a remortgage coming up and want to know how much it could cost you.

Chances are, the rates may be considerably different to your last remortgage, however these recent changes may be starting to soften the blow and you may be pleasantly surprised by the options available.

It’s our mission to provide tailored mortgage advice for your exact situation, and can look across a wide range of deals not found on the High Street, so please book an appointment to see how we can help you.

Please note, your home may be repossessed if you do not keep up repayments on your mortgage.

Sources:

(1) Bank of England (2024) Current Bank Rate. Available at: https://www.bankofengland.co.uk/ [Accessed 5th November 2024]
(2) Bank of England (2024) Official Bank Rate History. Available at: https://www.bankofengland.co.uk/boeapps/database/Bank-Rate.asp [Accessed 5th November 2024]
All the information in this article is correct as of the publish date 7th November 2024. The opinions expressed in this publication are those of the authors. The information provided in this article, including text, graphics and images does not, and is not intended to, substitute advice; instead, all information, content and materials available in this article are for general informational purposes only. Information in this article may not constitute the most up-to-date legal or other information.

Please be aware that by clicking on to any of the above links you are leaving our website. Please note that neither we nor HL Partnership Limited are responsible for the accuracy of the information contained within the linked site(s) accessible from this page.

12/03/2023

It’s a tough mortgage market to negotiate at the moment, but professional help can make the journey so much easier.

It’s a pleasure to be able to help secure these clients their first home purchase.

😃🥇🏠

Paul Dorward trading as PAD Financial is an appointed representative of H L Partnership Limited which is authorised and regulated by the Financial Conduct Authority (FCA). Please note that the Financial Conduct Authority do not regulate Secured Loans or most Buy-to-Let mortgages. PAD Financial is authorised by the FCA to offer advice on mortgages. PAD Financial will typically make a charge of £495 which is payable on completion for advising and administering your mortgage. Your adviser will provide you with an individual disclosure document confirming regulation and fees.

03/11/2022

Well, here it is, the Bank of England has raised interest rates again and the base rate now sits at 3%.

Whether this is enough to slow spending and increase the desire to save or not is something we will need to keep a close eye on over the coming months. If spending (and borrowing) remains high, inflation will stay higher than the target, and rates might have to rise again.

The Bank of England raises rates sharply to tackle soaring inflation, but the move will hit stretched households even more.

27/09/2022

If people are curious about the impact that the recent ‘mini-budget’ and base rate rise has had on the mortgage market, here is a direct consequence!

23/09/2022

Government Mini-Budget Special - the picture shows fireworks, but does this ‘mini budget’?

The Chancellor plans to cut income tax and stamp duty in order to boost growth.

In today's mini-budget, Chancellor Kwasi Kwarteng has announced a series of measures designed to stimulate economic growth. Among these are tax breaks for businesses and increased government spending on infrastructure projects. The Chancellor is confident that these steps will lead to a more prosperous future for the country. We have outlined a summary of the outcomes of today’s budget.

The government plans to cut the basic rate of income tax to 19p and do away with the top rate entirely.

Kwarteng announces that the basic rate of income tax will be cut to 19p next year, one year earlier than originally planned. This tax cut will benefit over 31 million people and make the UK's tax system one of the most competitive and pro-growth in the world. The chancellor is also abolishing the top rate of income tax. The highest rate of income tax had been 45% and has now been scrapped.

Stamp duty cut announced

The chancellor has announced a cut to stamp duty in England and Northern Ireland. The new threshold means that people will only have to pay stamp duty on properties that cost £250,000 or more. For first-time buyers, the threshold will be raised to £425,000 from £300,000.

Duty rates for beer, cider, wine, and spirits axed

The chancellor has announced an 18-month transitional measure for wine duty. This will help small breweries who produce draught cider, by allowing them to continue using smaller kegs of 20 litres or more. The planned increases in the duty rates for beer, cider, wine and spirits will all be cancelled. This is good news for everyone who enjoys a drink!

Reversal of National Insurance rise

The Chancellor restates that the recent increase in National Insurance - a tax levied on earnings - will be reversed from 6 November.

Rishi Sunak, the previous Chancellor, had hiked National Insurance by 1.25p in April, claiming that the funds would be used to finance healthcare and social care. However, Liz Truss's government has now stated that this funding will come from general taxation instead.

Corporation tax rise scrapped

The chancellor has announced that the government is scrapping the planned increase in corporation tax, which was set to rise from 19% to 25%. This was a key part of Boris Johnson's plan for funding while keeping the UK's rate competitive. However, those who support cutting corporation tax argue that it will attract companies to the UK and encourage investment, which means more money is eventually paid to the government through taxes.

VAT-free shopping for tourists

VAT-free shopping for tourists is to be introduced, Kwasi Kwarteng announces. This is part of the UK's drive to "modernise", he says. By introducing this measure, the UK will become more attractive to overseas visitors and boost its economy.

Bankers Bonus Cap Lifted

On the topic of bankers' bonuses, Kwarteng argued that capping them does more harm than good. He stated that "A strong UK economy has always depended on a strong financial services sector," and that in order to keep jobs and investment in the UK, we need to have global banks based here. He went on to say that the bonus cap only pushed up basic salaries, or drove activity outside of Europe, but it never capped total remuneration.

Strike Action

Unions will be required to present members with offers during pay talks as part of strike action.This will provide a much-needed boost for the economy, and it is hoped that this will lead to increased investment and jobs.

Energy Support

The cost of subsidising both domestic and business energy bills will cost £60bn for the next six months.

22/09/2022

In the last few moments, the Bank of England have confirmed that the base rate will rise, by 0.50% to 2.25%. This is the highest level since 2008 and is a continued attempt by the BoE to bring inflation under control. Currently, inflation is at 9,9% (as per the BoE website) and the target is 2%.

This is likely to have a knock-on effect to the rates being offered by mortgage lenders and mortgage lenders are already under immense pressure to lend, as borrowers look to secure fixed rates well in advance of their current deals ending. This extra demand is already having an effect on the interest rates on offer, as demand, and restricted supply (or the ability for lenders to cope with the demand), pushes the price of borrowing up.

Feedback that I've had over the last week, from relationship managers at different lenders, including some very large High St banks, is that they are having to increase rates to encourage borrowers to look elsewhere for their mortgage, as the processing departments cannot keep pace with the level of demand.

All of this is coming on the back of announcements from the government that they want to reduce taxation, and indeed introduce a stimulus to ease the cost-of-living pressures, specifically the cost of energy. Reducing tax and increasing money into the economy is likely to put money back in people's pockets, which could continue to stoke inflation.

It's a fine balance to tread to ensure that inflation is under control and savers are rewarded, but surely not at the expense of causing real financial harm, or even physical harm (as temperatures drop and food becomes more expensive) to people up and down the country. Perhaps this is why the government feel that they have to step in with the measures they have in place, but it really looks like the two policies, monetary and fiscal, are at cross purposes and a joined-up approach to combat both inflation, and the cost-of-living crisis is required.

08/09/2022

An inspirational public figure, who continued to lead by example to the end of her days. May She rest in peace.

Long live the King 🇬🇧