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Showing posts from May, 2020

Ten Tips For Getting The Best Deal On Your Mortgage Renewal

Ten Tips For Getting The Best Deal On Your Mortgage Renewal Least possible resistance? - Don’t just take the easy way and renew your mortgage without giving it a thought. This could cost you money - and possibly a lot of money. Review your financial situation, the property, and the current state of the mortgage market. When should I start thinking about mortgage renewal? - Each renewal date is an opportunity for a fresh financial assessment. Be sure to speak to your mortgage broker about this, three to six months in advance. Don’t wait passively for renewal notices and marketing calls. Be proactive. Is my credit ok? - There is a lot of mystery around credit reports. The credit reporting agencies are currently making major changes to reporting procedures, ostensibly in response to privacy regulations. You never want to be surprised by what the financial world is saying about your finances. You ought to check your own credit periodically. This will ensure correct reports and helps prev

Ten Most Exciting Reasons for Working With A Mortgage Broker

Ten Most Exciting Reasons For Working With A Mortgage Broker Get independent advice - The Canadian financial industry relies on a customer base that sticks to what is familiar and comfortable. If you are one of those customers, it is probably costing you money. The simple act of seeking independent, professional advice will put you one step ahead of the crowd. Cut through the noise - Much of the information that you rely on for your mortgage and business financing decisions and advice is sourced from one vendor or another. Your favourite media sources may be misinformed or out-of-date and you certainly do not want to rely on biased hearsay that you overheard at a social function that took place three months ago. Get your information from someone who is plugged into the fast-moving mortgage industry. It makes a difference - A full-time mortgage consultant spends long hours navigating a fast-moving market that you and your friends visit only on occasion. It is our pride and job to und

Mortgage Financing in a Pandemic

We are experiencing an economic situation that no one alive has ever seen before. Most middle-class Canadians like us are comfortable unless they have been directly affected by the pandemic. We have savings, homes, vehicles, groceries, and almost all still have regular sources of income. Working from home or in quieter work environments has created a sense of cocooning, but there is an economic storm taking place out there. In spite of all of the bad financial news, financial institutions are not in trouble. They are doing well and have been backstopped by the Federal Government in important ways. The low interest rate environment is generating a lot of activity for them. It appears that people are locking in mortgages for longer terms and attempting to move unsecured debt to secured debt products. Our experience with the major financial institutions is that they are quietly tightening up on lending programs. Our impression is that it is tougher and slower to get mortgage and busi