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Tel: 01253 752231

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Mortgage Advisers in Blackpool, Lancashire

What today’s interest rate move means for you

As was widely expected, the Bank of England’s Monetary Policy Committee (MPC) today raised interest rates for the first time in 10 years.

The change is a small one, moving from the all-time low base rate of 0.25% that the MPC moved to immediately following last year’s EU referendum, back up to 0.5%. Nevertheless, this could be a signal of shift in policy from the Bank which may well initiate further rate hikes in 2018 to combat a rise in inflation.

While today’s move is unlikely to have a significant impact on your finances, those on variable rate mortgages could see a small increase in their monthly payments. Payments will not change for those currently on fixed rate mortgages.

Savers may benefit from a small increase in interest paid on their cash accounts, though rates offered through bank accounts remain feeble. Annuity rates may also see a small increase.

If you have any questions regarding your finances, please contact us and we will be happy to help address any concerns you may have.

Mortgage Shop office

The Mortgage Shop is delighted to be celebrating 27 years of providing reliable trusted service to the local community, and beyond.

John Norris, The Principal, says it is hard to believe it is 27 years since we opened The Mortgage Shop, which at the time was a new phenomenon, in those days most mortgages were obtained by visiting your bank manager and hoping he decided you were a safe bet!

Our aim then, was to make the whole house buying and mortgage process as easy as possible for our clients, providing trusted impartial advice. That still remains the same today, but the mortgage market itself has changed dramatically.

Despite the considerably lower mortgage rates now compared to 1991, it is much harder for people to get on the housing ladder than it was then, this is due to a combination of things such as house prices increasing faster than incomes, more refined credit scoring systems and significant changes in mortgage regulation. It is now, more than ever, essential to approach the right lenders when making a mortgage application and to 'get it right first time'.

John and Marina NorrisThis is where the Mortgage Shop comes in to it's own. Our aim is to get to know each client on an individual basis and use our vast experience and knowledge of the many lenders to prevent unnecessary and unhelpful credit scoring and ensure the best possible outcome for them.

We are proud to say that over the past 27 years not only have we helped our clients buy their first homes, but also move on to their next homes and are even now helping their children to get onto the property ladder, so much so that many clients are more like friends!

The Mortgage Shop has developed and expanded over the past 27 years – as well as the full mortgage service we have the Commercial Finance arm and are members of the National Association of Commercial Finance Brokers which gives our clients access to numerous Commercial options.

We have continued to expand the full range of Financial Services offered, John's brother Andrew is responsible for the Investment & pension advice arm, Andy joined the business in 1994 after 18 years in the banking and financial advice sector and provides advice on investments and pensions.

As with the mortgages The Investment and Pension Market has also changed enormously over the years and because of the legislative changes in the way charges are paid many large financial advice firms are willing only to advise on large pensions and portfolios.

The Mortgage Shop teamSome will only advise on funds exceeding £250,000, which we are happy to do, but this is not particularly useful for the 'man in the street'! As a trusted family firm the Mortgage and Investment Shop is happy to help our new and existing clients whatever the size of their pensions and investments, and are happy to help clients with smaller 'pots'.

The Mortgage Shop truly is a family business, John & Marina started the firm with John's sister Christina in 1991 and his brother Andy joined in 1994. Rob, John & Marina's son, who was only 5 when the business started joined the team in 2008 and Chris Simkin who joined in 1998 has worked here so long he feels like a member of the family!

John would like to thank not only his valued colleagues but also all of the thousands of clients whose support has helped establish The Mortgage Shop as the trusted brand it is today. He says "As most people and businesses know it hasn't been plain sailing in the financial markets over the last 27 years, but with the hard work and commitment of those mentioned above we have survived two major recessions and massive changes to mortgage regulation. We are a local business which has worked hard to establish a respected name for trusted, personal service to our local community. I am very proud of The Mortgage Shop's good name in the area and am determined to preserve this by continuing to provide good reliable service to our valued clients for the next 27 years."

Important warning to buyers - don't feel forced to use an agent's "preferred" services. Click here to read more



Company address:
The Mortgage Shop, 67-69 Topping Street, Blackpool, Lancashire, FY1 3AF
T: 01253 752231
F: 01253 752354


The Mortgage Shop is an appointed representative of Openwork Limited, which is authorised and regulated by the Financial Conduct Authority.

Openwork is entered on the Financial Services Register ( reference 408285

The information on this website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK.

Telephone: 01253 752231 |

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