Information Only Mortgage Brokers

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Independent mortgage brokers are usually regarded as a superb source of advice when seeking the perfect mortgage to fund or remortgage a property.

Independent mortgage brokers aren’t tied to advising customers to utilize particular lenders. Rather, they have access to all mortgage lenders and products available in the marketplace.

Along with independent mortgage brokers, you will find tied mortgage agents. Tied brokers are like independent brokers, however, rather than having access to all mortgages available on the market they just have access to products from a select panel of lenders.

Some mortgage brokers do not provide tied or independent advice and so offer an “information only” service. For more information about mortgage broker Ontario, you can go through the web.

Information only mortgage agents don’t help their customers decide upon which mortgage products are best suited to their unique conditions or financial situation.

Rather, information only agents will often offer you a wide choice of mortgage products and will execute the management functions required to process the application after the clients have chosen the products independently.

Although this might appear odd at first, the major benefit to the client of such a service is that the clients are normally not charged a commission. Clients can, therefore, benefit from utilizing information only mortgage agents by saving money.

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