Michael Ferrara - Mortgage Advisor

09/04/2024

Oh these mortgage interest rates are high. 🥵

American Express “hold my beer”

If you are struggling to keep up with credit card and/or loan payments, there may be some options available.

Your home may be repossessed if you do not keep up with repayments

28/06/2022

Do you have an interest only mortgage? More importantly, do you have a repayment strategy?

There are a few options available, each with pros and cons.

1. Switch to a capital repayment mortgage.
2. Equity Release Mortgage
3. Use savings or pension lump sum
4. Downsize

These options may not be available to you; based on your personal situation and circumstance. Other options may be available too.

There are no charges for initial consultation, so get in touch today and lets review the options available.

24/06/2022

Are you over 55? a home owner? in need of financial support? Equity release could be an option for you. My process is to look at all your options and establish if equity release is right for you, and I offer a free initial consultation.

06/01/2022

This is what I do…

Clients had offer accepted in November…. 🎉🎉🎉

Applied directly to their bank… but their bank said 👎
Applied directly to another 3 banks and they said 👎

Seller gave a deadline of 10th January to have mortgage in place or house was going back on the market.

Spoke to me on 3rd of Jan to see if I could do anything to help. Fast forward 3 days and we have a full mortgage offer in hand.

Only 6 days into the year and already helped a young couple get on the property ladder when they were about to give up.

01/12/2021

What is your favourite Christmas Film and/or TV special?

For me..... Film wise its got to be Scrooged. TV special is all about seeing Geraldine eating 3 Christmas dinners in the Vicar of Dibley.

28/11/2021

COMPETITION WINNERS TIME!

Lego Harry Potter - Jaime Rodger
Disney - Holly King
World of Tea - Kerry Chapman Copp
Illchester cheese - Lisa Benvie
LOL Doll - Amanda Noble
Yankee candles - Julia Rowe
Ornaments - Chrissy Lee

Thank you to everyone that took part. Remember to like the page as it’s regularly updated information and news regarding the world of mortgages.

Merry Christmas everyone.
🎄🎄🎄

22/11/2021

🎄🎄🎄COMPETITION TIME🎄🎄🎄

Up for grabs we have 7 advent calendars for 7 different winners. 🎁 🎁🎁

To be in with a chance of winning all you have to do is use the reaction buttons to choose the want you would like, or comment.

Like for Lego Harry Potter
Heart for Disney
Care for World of Tea
Wow For Illchester cheese
Haha for LOL Doll
Sad for Yankee candles
Angry For Ornaments

Don't forget to tag or share the post so you your friend & family are in with a chance too.

Competition closes on Friday evening at 10pm, all winners will be announced over the weekend. Advent calendars will be posted first class on Saturday afternoon in perfect time to start the countdown to Christmas 🎅🏼

Merry Christmas everyone.
🎄🎄🎄

25/10/2021

What an amazing idea.

CALLING ALL CRISP LOVERS
Did you know it takes 80 years for a crisp packet to decompose? Did you know that 150 of them can be ironed together and turned into a survival blanket for a homeless person and will help to keep their sleeping bag dry and insulated?

The iron man are collecting crisp packets and will be making these blankets. If you can collect them between now and Christmas we would be happy to take them off you hands! (Preferably washed first in warm soapy water)

Thank you 🙏

Let’s try get as many in by the 3rd of December!!

Edit: I have made a group and posted it on our page for a little bit more info on what we are doing and where to send them too!

https://www.facebook.com/ironmanfrome/

Alternatively you can donate to our go fund me page!

https://gf.me/u/y7cpuj

22/10/2021

This is what I do....

Client looking to re-mortgage as their fixed term is due to end in 3 months

Client is current paying £540 per month @ an interest rate of 2.79%, and is due to go up to 3.69% (when fixed term ends) with a remaining term of 17 years and 7 months.

New deal secured for the client.

New interest rate - 0.99%
New repayment - £529
Term reduced to - 16 years.

By switching the client to a new lender, I have saved them £21 a month, and will see their mortgage paid off 19 months earlier.

The cost to the client? around 1 hour of their time.

21/10/2021

Hands up... 💁🏻‍♀️💁🏻‍♂️

Who’s decorated their house for Halloween?

Let’s see your efforts.

14/01/2021

This is what I do...

Clients mortgage was due for renewal as their fixed term was about to come to an end, with a balance of around £120k outstanding.

Option from existing lender...

Keep remaining term (13 years and 9 months) as is, at an interest rate of 2.19% and monthly repayment of £849.92

Option recommend by Me.

Reduce term by 9 month to new term of 13 years, switch to a new lender offering a rate of 1.79% with no costs to move over (legal and valuation fee paid by lender and no arrangement fee to pay) And a monthly repayment of £857.36.

Yes... the repayment is slightly higher under my suggestion (£7.44 a month more) however client is on course to save approximately £6,480 on interest

Apparently the savings will pay for the retirement cruise - clients words, not mine.

Always a pleasure - never a chore.