One Stop Mortgage Corp Blog

TIME TO LEAVE YOUR BANK

tired of bank fees

It seems that every big bank across the country is raising their service fees to all new levels that are at the point of being ridiculous.  Sometimes it feels like it is more expensive to keep money in a big bank than to put it under your pillow. We need a secure place to put our money and we need to work with an institution where we are respected and more than just a number.  When it comes to mortgages, the service fees can be ridiculous and there seem to be so many costs to getting a mortgage, renewing a mortgage, making a down payment and more so that you feel like you are paying more on service charges than you are for your monthly payments.

According to a survey conducted by First Ontario Credit Union the average Canadian has been with the same bank for more than 15 years, yet more than 40% are unhappy with the service fees their banks charge them.  While many people are switching their main banking to credit unions, these institutions sometimes have higher interest rates on their financial products.  Credit Unions are usually tied to their communities and have a better public image than the big banks that seem to be always posting profits every quarter in the billions.  When it starts to cost you more and more to keep your money in the bank, it means that you need a change. 

 

So where can you get a good deal on a mortgage rate, know exactly what your fees are going to be, and take advantage of low interest rates?

First, you need to do some research and find out where to put your chequing or savings account.  Thankfully, the Financial Consumer Agency of Canada has published some great guides to help you.  In their “Choosing the right chequing account banking package” and “Choosing the right savings account”, they give you easy to follow and in-depth information about what to look for when you sign up for a chequing or savings account.  You also want to go somewhere that you feel respected and looked after.  We are all so busy working to pay our bills and looking after our families, that we often don’t realize how much money the banks are collecting in fees from us.  When you go into a big bank, do you feel like you are getting the best rate on your credit line, your mortgage or your chequing accounts? Or are you paying too many fees?

When it comes to a mortgage, you need to be extra careful.  It is easy to get talked into a mortgage package loaded with surprise fees that you didn’t expect before you entered the room to meet with your bank mortgage advisor.  You can also feel that you are there without any support and sometimes it is overwhelming when you are asked to sign in so many places without realizing exactly what you are signing for and how much it is going to cost you.

A Mortgage Broker can help you get the best rates on mortgages, home equity loans, and can also assist you with debt consolidation advice.  Mortgage brokers are specialists in the mortgage industry and can be there for you when the bank turns you down, you need a loan to start up your business, pay your child’s tuition or need to pay off credit cards and consolidate your debt.  It is great to know that you can someone in your corner to fight for the best deal and get access to a wide variety of funding options to help you get the best rates that fit your needs. 

Why stay with the old big bank that is more concerned about its own billions of profits than it is with you.  Contact One Stop Mortgage today and find some financial freedom.  They can help you consolidate your debt, give you credit help, provide you with excellent deals on home equity loans, and fight for you to get you the best rates available to you.  Are you ready to stop paying ridiculous fees?  Contact One Stop Mortgage today and get back your life!

 

One Stop Mortgage can help!

The One Stop Mortgage group is always available to assist you in finding the best loan to fit your needs.  Give them a call at 604 874 8988 or 1-877-874-8988 or email them at sergio@onestopmortgage.ca.  The team of Mortgage Brokers at One Stop Mortgage can find the best second mortgage or home equity loan that best fits your needs.

 

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