Steve Padgham, head of the mortgage department at The Financial Planning Group, shares a secret that could give you and your family peace of mind during 2015 and beyond.

Hands-up all those readers who are concerned about the impact of an interest rate rise on their monthly mortgage payment? Perhaps you’re sitting pretty on your fixed rate but frustrated you can’t lock into the current crop of great low-cost fixed deals? Well if your current deal is due to end in the next six months, and you are keen to grab an all-time low mortgage rate, then perhaps there is a way to do it now. It’s a conversation we are having with our existing clients regularly.

They are more than delighted when we inform them that we can actually secure a new mortgage deal for them six months in advance. In Autumn 2014, we secured a very competitive new five-year fixed rate for a long standing client, at 2.99%. His rate was guaranteed until March 2015. The good news hadn’t finished though, as there was further potential upside for the client.

Over the intervening period we continued to monitor the market, and when the chosen lender cut their rates further, we were able to move our client over to an even more preferable rate, 0.3% lower. Whilst this doesn’t seem much, a rate reduction of only 0.3% on a £300,000 mortgage, over a five year period, amounts to £4,500 of saved interest payments.

We will continue to monitor the market until their existing deal finishes and they actually draw down the new mortgage in March 2015. One of the key benefits of dealing with The Financial Planning Group, as opposed to going directly to a lender, is the continued engagement that we offer to all our clients. Once a mortgage that we have arranged has been completed, we then set a computer based diary note and automatically remind clients six months prior to this deal ending and repeat the process.

Our commitment to service ensures that our clients are best placed to take advantage of the most competitive rates available to them.

To speak to Steve about your property finance or mortgage requirements, call him on 020 8614 4782, or e-mail






















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