Business
This past weekend, your two favorite podcast hosts took the show to Newstalk 1010 Radio! In this one-hour special, we highlighted the advantages of using a mortgage broker for unbiased financial advice instead of your bank, discussed the impact of COVID-19 on the landing landscape as well as the consumer, and took incoming calls from live listeners. Have a listen to the episode HERE (link).
A lot of you who have listened to previous Make Money Count episodes will already have heard a lot of the points discussed. But a couple of key points to always keep in mind:
1. Your bank’s priority is to their shareholders, not you.
Your bank knows that the average borrower thinks they are the only place to turn to when they need a mortgage or need any form of loan. They likely are not offering the best rate available to you, and they’ll limit your credit options if you need to access more capital in the future. A mortgage broker will shop you around with several different lenders to get you the best rate possible and will give you unbiased financial advice if you need to access home equity in the future.
2. Secured vs Unsecured debt: Go with secured.
If your bank only offered you credit cards and unsecured lines of credit when you needed help, the interest on it will be much tougher on your long-term finances than debt secured against your property. If you own property and have the equity in your home, the rates you will be able to get from secured debt will be much lower. If your bank won’t present secured options to you, go to a mortgage broker.
3. The Cannect difference? Salaried staff and a streamline process.
Any mortgage broker can help you, but our salaried staff won’t ever pressure you into making any decisions. All we want to do is lay out all the options for you to help you make the best decision FOR YOU. And with the help of our in-house technology, we have the ability to go directly to borrowers and investors. Without fees to 3rd parties, we can lend cheaper and generate greater returns for investors simultaneously.
Look out for us on more live shows in the near future. Feel free to call into them with any questions, or just reach out to us directly at 416-766-2666.
If you're looking for a stable investment, take a look at the Cannect Mortgage Fund.
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