Lowest Price

The Lowest price isn’t always the law, sorry Zellers for those who remember them. More often than not quality is far more important that just the lowest price. If we were only concerned with the lowest price we would all be driving the $12,198 Chevy Spark. Instead the average new vehicle transaction in Canada last year was $45,594.

Incase you were wondering yes the same applies when you are shopping around for your new mortgage. This is where solid advice should be the most important part of your selection criteria. You see some of low rate fixed products come with some surprising conditions.

For the savings of 5 to 10 basis points ( note 100 basis points is equal to 1%) savings you are losing in some cases pre payment privileges, or have reduced pre payment privileges, you are locked in to that product and the only way to leave is a power of sale. Also if you are able to break it and leave the lender watch out for that nasty pre payment penalty.

“The bitterness of poor quality remains long after the sweetness of low price is forgotten” Benjamin Franklin

Today I am thankful for my dog who gets me out of the house even when it is -24c windchill, having a roof over my head when it is unbearably cold outside and a wife who makes the most amazing homemade food.

I look forward to hearing from you in regard to your mortgage needs.

Patrick

p.s- You can click on this link to start the process whenever you are ready. Schedule your meeting with me here.

p.s.s- I should tell you that I am licensed in Nova Scotia, Ontario(M18001555) & in British Columbia(BCFSA #504098).

p.s.s.s You can download my new mortgage app here