A Mortgage Broker is an who independently who seeks to match individuals looking to purchase a mortgage to appropriate lenders who offer consumer mortgages. In Canada mortgage Brokers sell the majority of all mortgage products to consumers. Inside branch by the banking institutions are approximately 30% of the entire market with the Mortgage Brokers picking up the rest .
Mortgage Planners are typically individuals who operate as Mortgage Brokers but offer enhanced services that seek to strategize more efficient borrowing and lending services with an overall strategy to minimize fees, taxes and increase cash flow. Their overriding goal is to maximize an individual wealth accumulation while providing accurate information on Mortgage Refinancing .
Both Mortgage Planners and Mortgage Brokers incur legal, moral and professional liabilities. Varying by province and state , they ensure that consumers are protected. Second opinions are often a smart idea for any large financial transaction as long as they do not turn into shopping around trips . When you are asking for a second opinion you should be up front and offer to pay for that professional’s time and expenses. By paying for their advice you enter into a contract and invoke the protection of their liability insurance. Bad advice usually starts off being free especially if it has anything to do with real estate.