The mortgage market is going through a very interesting period of change. On July 9th, for the fourth time since 2008, we saw new mortgage rules come into effect. In addition, over this time period, several lenders have exited the business.
With a tightening lending market, now more than ever, the expert advice of an experienced, impartial mortgage broker is crucial. That’s why almost 50% of first-time homebuyers (48%) now use a broker to arrange their mortgage, up from 35% five years ago! It’s also why you should to talk to Primaria Mortgages if you get a letter or call from your lender regarding your mortgage.
Some lenders have been calling clients to discuss locking in their variable-rate mortgage. Remember, we work for you – our goal is to help you make an informed decision and make the most of your mortgage. We are in touch with a wide variety of lenders so we can always make sure you are in the best position possible. Your lender will be interested in seeing you lock in with them – and often we think that’s great. But before you do, get advice. Give us a call so we can review all of your options and strategies, not just those presented by your current lender.
Please call or email at any time! If you’re thinking of locking in your variable mortgage rate, contact us for advice.