Associated with Verico Financial Group, a top Mortgage Broker Network in Canada, I aim to provide you with the best possible independent professional mortgage advice.
Starting with your own financial goals, I will advise on the best lenders and products available to you, lead you through the Mortgage approval process and keep you well informed as we move towards completion.
I offer advice both as in individual with the practical experience of shopping for a family home, in addition to that of a business owner when financing a business through both good and bad economic times, plus valuable experience as a commercial and residential property owner and investor.
Whether you are taking a mortgage for your first home, remortgaging, or re-financing, the priority remains the same – developing an ongoing mortgage strategy centred around your own particular needs.
Time for some Independent, Professional advice
Sourcing a mortgage which is right for you Independent Professional advice
Most home buyers today need a mortgage, and in todays market there is good reason to get an early start to organising your finances.
By using the services of an independent mortgage broker you not only are able to access all lenders and products to get the best fit for you, but in the majority of instances, the service is free!
Your consultation with a broker is without obligation and it will put you in a strong position to offer on a property when you find the right home.
By taking time to meet with a mortgage professional you will go through a pre-approval process which will result in a conditional pre-approval or, more accurately, a 120 day rate hold.
Subject to receiving and approving financing key words to remember
It is important to realise that although you may now be pre-approved at a certain rate there will remain a number of Lender conditions to be met. In addition, the Lender still needs to approve of the property which you wish to purchase.
For these reasons never offer on a property without inserting a subject to receiving and approving financing clause.
Be ready to make your move
Once you have met with your mortgage broker you will be on a forward footing and know:
What price range of home you should be looking at;
What your monthly mortgage payments will be;
How much deposit you will need to come up with;
What your various purchase costs are likely to be including Property Transfer Tax;
Start dealing with any wrinkles
Your discussion with your Mortgage Broker will also let you know:
How strong your credit score is and whether you need to take any remedial action;
Whether you need to arrange Gift letters (if a family member is helping with your deposit); NOAs; letters of employment and so on.
Whatever you do
Do not enter into any new credit card or financing arrangements until you have purchased your new home. A $100 monthly credit payment will reduce your purchasing power by $100,000!
Almost one-quarter of Canadian seniors are caregivers
While older Canadians may be more likely than their younger counterparts to require help and care in their daily lives, almost one-quarter of Canadian seniors aged 65 years and older are caregivers themselves. And while the roles and responsibilities of these senior caregivers may have changed in the context of the COVID-19 pandemic, the challenges they face could be heightened.
Although the pandemic has affected the lives of all Canadians, seniors have been identified as a population particularly vulnerable to COVID-19. Not only are seniors more at risk of severe illness, they are also more affected by isolation measures. As a result, many senior caregivers who help people living outside of their household may not have been able to provide the same level of care that they usually do. Senior caregivers providing help to their spouse may also have seen their burden of care increase, given the possible lack of other support during the pandemic. For example, older caregivers who are usually supported by their adult children to provide help and care for their spouses, may have had to perform additional activities and provide more hours of care than usual. While the data in the current study were collected prior to the COVID-19 pandemic, the results highlight the many challenges senior caregivers already faced.
A new study, The experiences and needs of older caregivers in Canada, uses data from the 2018 General Social Survey on Caregiving and Care Receiving to provide a profile of senior caregivers in Canada. Senior caregivers are those who have provided help or care to a spouse, another family member, or a friend with a long-term health condition, a physical or mental disability, or problems related to aging.
Senior caregivers are likely to continue to play an important role in the years to come. As the needs for care and help increase with an aging population, smaller families and geographic mobility among Canadians may reduce the supply of potential younger family caregivers. Within this context, many older Canadians may be relied upon to become care providers, even though they may develop health issues of their own, including age-related physical and cognitive declines, chronic illness and some level of disability.
Week in review
Real GDP continued to recover in August, gaining 1.2% m/m, a result above the +0.9% print expected by consensus. This marks the fourth monthly gain in a row for this indicator, however total output is still down 4.6% from its pre-pandemic (February) level. Production rose in 15 of the 20 industrial sectors covered in August, with two others remaining flat in the month. Goods sector output climbed 0.5% on decent rises for construction (+1.5%) and manufacturing (+1.2%). Industrial production edged up 0.1%. Services-producing industries, meanwhile, experienced a 1.5% surge in production, with the steepest progressions occurring in arts/entertainment (+13.7%), accommodation/food services (+7.3%) and educational services (+3.4%). Year on year, total economic output was down 3.8%.
Canadian GDP registered yet another advance in August but the economic recovery remains highly uneven. Some sectors have now fully recovered from the COVID-19 shock and currently stand above their pre-pandemic peaks. That is the case for agriculture/forestry/fishing/hunting (+2.5% compared with February), finance/insurance (+2.1%), real estate (+1.5%), wholesale (+1.3%), retail (+1.2%) and utilities (+0.8%). That said, certain industries continue to suffer. For instance, production in the mining/quarrying/oil and gas extraction segment remains 17.2% below its February level thanks in large part to depressed energy prices. The sectors most affected by social distancing measures are also struggling to recover. Output in the arts/entertainment segment is roughly half what it was before COVID. Production in accommodation/food services, meanwhile, remains 28.2% short of pre-pandemic levels. Transportation and warehousing is also tracking 20.5% below February. While the economic rebound is likely to have extended into September Statistics Canada advance estimate suggests production expanded another 0.7% in the month the steep gap between the best and worst performing industries is likely to endure in a context in which people continue to avoid social contacts. Looking further ahead, the real question remains whether the recovery can be sustained, especially now that COVID-19 cases are surging back up, forcing some provincial governments to reintroduce social distancing measures.