February 4th, 2011
Did you know..
While most Canadians spend a lot of time, and expend a lot of effort, shopping for an initial mortgage, the same is generally not the case when looking at mortgage term renewals. Omitting proper consideration at the time of renewal costs Canadians thousands of extra dollars every year. Homeowners should never accept the first rate offer from their existing lender. Without any negotiation, simply signing up for the market rate on a renewal is unnecessarily costing the homeowner a lot of money on their mortgage. It would be my pleasure to have the lenders compete for your mortgage business at renewal time to ensure you receive the best mortgage options and rate catered to your specific needs.
Who are these lenders…
A friend of mine asked me “who are the lenders DLC use?” He went on… “Are these guys on street corners or are they respectable institutions?” Something told me he wasn’t joking. I will not list them all but here is a sample of the lenders I work with to get you the best deal possible:
VanCity
Scotia Bank
TD Canada Trust
National Bank of Canada
ING
First National Financial
North Shore Credit Union
Firstline
Home Trust
MCAP
Merix Financials
ResMor…to name but a few.
At last count, and it is increasing, I have access to 319 mortgage options!
Each and every lender throughout Canada, large or small, is regulated by the federal government. There are no exceptions to this rule.
If you have any questions please don’t hesitate and call.
Best regards,
Alan (778 232 1063)
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February 4th, 2011
Misplaced Loyalty….How much can I save you?
I just saved a very nice couple over $20,000 on refinancing their existing mortgage upon maturity. As in every case I have seen, if they had just signed their mortgage renewal statement, they would be paying a lot more than they should. In this case, over $20,000 in just three years. Or as often reported in the press “the bank is that much more in profit!”
I was speaking to a person recently at a dinner party and telling them what a mortgage broker does and how I work for my clients and not the bank. He said what I have heard many times over, “Well that is nice, BUT I have been with my bank for years and I am loyal to them!”
I cannot get my head around this mentality. One thing your contact at your bank will not tell you is that their rate isn’t competitive and that there are much better rates and products at other institutions! As a mortgage broker it is my job to get you the best rate and product possible. I do not work with just one lender I have access to over 90 lenders.
Call me old fashioned but I am loyal to my family, friends and yes country. But to a multibillion dollar profit organization?!! I draw the line! I would much rather have the extra money in my pocket than hand it over to my bank.
If you move your mortgage it doesn’t mean you have to move your bank accounts, savings, RRSP,s , cards, etc.
If your mortgage is coming up for renewal please give me a call. Hell, give someone a call, but don’t sign on the dotted line until you have spoken to a mortgage broker!
Kind regards,
Alan (778 232 1063)
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