…And you could only get a mortgage through ‘THE BIG BANKS’. Boy would things be different. Would the Banks charge you whatever the heck they wanted to? Absolutely they would!
You know what? We keep the banks on their toes. Without the mortgage brokerage industry, people would pay much much more than they do today, and many would not qualify for a mortgage at all. The banks have 75 per cent of the mortgage market, and we have 25 per cent. Most Canadians still do not understand the true value of our services, and have little idea what they are getting into when you get a bank mortgage any more.
The public at large continues to be ‘The Great Unwashed’ a term used many decades ago to describe those who were ignorant, and who believed in what their mothers and fathers before them did and still tell them to do. Most still blindly ‘flock’ to the bank first, and only when they have a problem, do they come to us. It’s a good thing there is another choice.
Don’t get us wrong, there are many bank personnel who are great people. But they are skillfully trained to do what’s best for the bank, and extract as much as they can from you, so if you think your bank is looking after your best interests, think again. A mortgage (usually the biggest investment of a lifetime) is a lot more than about rate. Yes ‘rate’ is very important, but the terms of a mortgage, and the advice you receive are equally so.
You know what else? The big banks are winning the game. Anyone who takes a bank collateral mortgage is letting the bank have almost complete control over their finances, and will ‘absolutely’ end up paying more. Does it sound right to you that a mortgage is registered well above the price/value of your home, that your unsecured credit cards effectively become ‘secured’, and the bank can increase the rate at their discretion? That’s only the tip of the iceberg folks.
We look out for your best interests in an unbiased way, and we put you in mortgage products that are best for you. We educate, advise, strategize and find solutions every day that save Canadians thousands upon thousands of dollars, and we help you achieve financial well-being and financial security.
We are passionate professionals who care about you, and who simply want to get the truth out because you should be aware about what is really going on.