What is a switch or a mortgage transfer?

Picture this, you were driving to work or making your kids breakfast and CBC News broadcasted early this morning that Bank of Canada rates are going down so what does this mean for you and how does it affect you?

Let’s say that the rate you’re paying now is significantly higher than what they announced, and the banks have popped up in your Facebook or Instagram page with more appealing rates.

Don’t fret because you have a chance to qualify for the same. Switches or Transfers gives you the power to switch or transfer your mortgage to another lending institution who offers a lower rate over the duration of your term.

Call us for a consultation to see how!