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Mortgage Broker News | 11 Jul 2011, 09:00 AM Agree 0
A boom in construction permits for Ontario and Quebec is highlighting the need for greater access to one-year rate holds, says the head of a leading Montreal brokerage, arguing mortgage professionals are hamstrung in their efforts to capture a bigger share of condo sales during construction.
  • Danny | 12 Jul 2011, 03:30 AM Agree 0
    Laurentian Bank Offers 6 month and 1 year rate holds for the brokerage community.
  • BC mortgage broker | 12 Jul 2011, 05:04 AM Agree 0
    I agree, a huge part of our market it pre-sales, and the licensed brokers don't get to tap into this as we only have a 6 month max rate hold with national bank. Builders are using TD, RBC etc who offer the lowest discounted rate for over 1 year periods for pre-sales.
    If a bank were to step up and offer the broker channel something similar, we would be able to service a whole other market and bring that back a considerable amount of biz.
  • @kiltedbroker | 14 Jul 2011, 08:37 AM Agree 0
    I just picked up a build file today that is possession for April 2012, a 1 yr hold sure would be nice in this situation. I agree, it sure would be a nice product, even at a higher rate.
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