Visiting your bank is a perfectly normal option. You’ve been with your bank for a while and you feel they should know you. The independent mortgage broker is the other option to consider.

An independent mortgage broker like Vertuity Mortgage is a licensed mortgage specialists who have access to multiple lenders and mortgage rates. They essentially negotiate the lowest rate for you by working with their network of lenders. They save you time and money.

The market share for mortgage brokers is increasing in Canada according to the Canada Mortgage and Housing Corporation. CMHC recently completed its Mortgage Consumer Survey of 3,510 mortgage consumers. CMHC has conducted this survey since 1999. It’s the largest and most comprehensive survey of its kind in Canada.

The survey revealed independent mortgage brokers share of the first-time buyer’s market increased from 48 percent to 55 percent over the major banks. Among repeat buyers the market share increased from 32 percent in 2012 to 42 percent in 2015. Among refinancers the percentage of market share increased from 27 percent to 33 percent.

Mortgage brokers live Vertuity Mortgage do the heavy lifting for you. The process starts with your credit score. Brokers help you build your credit to get the lowest mortgage rates. The pre-approval process is also handled by your mortgage broker. Getting pre-approved is an essential step to getting your mortgage. The mortgage broker has streamlined procedures for the pre-approval process.

The major advantage to using an independent mortgage broker is negotiating a mortgage.

Vertuity Mortgage has positioned itself as the alternative to major banks. For most people, buying a home is the biggest financial decision they will ever make. It is also an area that is unknown to many people. Banks offer a limited number of products and most people don’t realize there are better options available.

Vertuity Mortgage has access to over 40 different lenders and typically works with 5-10 lenders to meet a client’s needs. It’s a matter of who has the best products in the industry to help the client the most. Vertuity is a local company but is part of a national mortgage franchise that creates great “buying power”. It allows Vertuity to obtain lenders rock bottom lowest interest rates upfront without any need for negotiating. It often means Vertuity can get you a lower mortgage loan rate than you could from anyone including your own bank.

It cannot stress enough how valuable it is to have access to many different lenders and a real variety of mortgage solutions. An independent mortgage broker isn’t going to force you into a limited option.