At True North Mortgage we frequently buy down rates to get the customer not only the best product for them, but the best product at an incredibly low rate.
When a Mortgage broker buys down the rates it involves sacrificing some of the commission paid by the lender to get clients the lowest possible rate.
This works well for True North Mortgage as we do huge volume. For some smaller independent mortgage brokers this hurts their bottom line or means they need to work harder to make the same. They are looking for ways to protect the way they do business. Sometimes this involves making false claims about our level of service and/or products.
For customers there a few things you should know.
Getting a better rate from us does not mean skimping on service. We have some of the most experienced staff in the industry and we invest heavily in training.
Our low rate mortgages are not “no-frills” products. It's the same product at a better rate. In fact, we don’t deal with lenders that only offer “no-frills” products.
We offer a very structured approach to service. One that ensures consistency, reliability and, of course, speed. - We simply do this better than any other broker.
Our growth has come from combining a great rate with exceptional customer service.
63% of our clients have referred someone to us
25% of our employees actually own part of the company
0 is the number of Error and Omission insurance claims we have had since inception
We haven’t received a single complaint from the public via BBB, RECA (Real Estate Council of Alberta), FICOM (Financial Institutions Commission BC), FISCO (Financial Services Commission of Ontario), OACIQ (Quebec Regulator), FCAA (Financial and Consumer Affairs Authority Saskatchewan), SNSMR (Nova Scotia Regulator) or CAAMP (Canadian Association of Accredited Mortgage Professionals) – We work in a very regulated environment.
Come down to one of our easy to get to locations and talk to one of our friendly agents & decide on our service for yourself.
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These articles may not say it directly, but they're addressing the "True North" problem.
Mortgage Broker News: Broker: Never, ever buy down rate
Financial Post: Mortgage brokers undercut banks