Recently Canada Mortgage and Housing Corporation conducted a consumer survey. The survey showed an increase in the use of Mortgage Brokers across Canada. The percentage of home buyers using a Mortgage Broker increased to 42%. The Survey also indicated that 50% of Canadians are not aware of the many options and features available to them at the time of renewal.
Banks will often mail clients a renewal notice indicating the rates they can get and asking the client to select their choice and return the form so it can be processed. These notices are not necessarily giving clients the best rates available to them and offer no guidance. Unfortunately this means if the client does not contact their bank directly to negotiate the terms they may be paying thousands of dollars in unnecessary interest.
When dealing with us we work hard to get all of our clients the best of the best available to them. Mortgage Brokers have access to a vast marketplace which enables us to do the shopping around so our clients don’t have to. We have no fee for doing this. So if you can get better service, better rates as well as more guidance and advice why wouldn’t you choose to work with a Mortgage Broker?
*CMHC Consumer survey can be viewed at this link
Mortgage Alliance Advance Mortgage