Saturday, May 26, 2012 New property listed in Boulevard, North Vancouverby Garth P Raven (Prudential Sussex Realty) on Sat, May, 26, 2012 04:01 AM
I have listed a new property at 829 17TH ST E in North Vancouver.
PRIME flat 9164 ft. private lot in sought after Boulevard area. Not to be missed!! Laneway access. Well taken care of yard.... Tuesday, May 8, 2012 New property listed in Deep Cove, North Vancouverby Garth P Raven (Prudential Sussex Realty) on Tue, May, 8, 2012 04:02 AM
I have listed a new property at 7 2151 BANBURY RD in North Vancouver.
Semi water front and picturesque ocean & mountain views are what you'll find here in this rarely available, fully renovated... Tuesday, March 27, 2012 New property listed in Lower Lonsdale, North Vancouverby Garth P Raven (Prudential Sussex Realty) on Tue, Mar, 27, 2012 04:01 AM
I have listed a new property at 1101 130 2ND ST E in North Vancouver.
Inspiring 180 degree harbour and city views are noted the minute you enter this well maintained, and upgraded home... Wednesday, March 14, 2012 New property listed in Arbutus, Vancouver Westby Garth P Raven (Prudential Sussex Realty) on Wed, Mar, 14, 2012 04:01 AM
I have listed a new property at 2849 18TH AVE W in Vancouver.
A tastefully remodelled, renovated and exceptionally well cared for 5 bedroom 4 bathroom Arbutus Home! Features include stainless... Wednesday, February 15, 2012 New property listed in Lower Lonsdale, North Vancouverby Garth P Raven (Prudential Sussex Realty) on Wed, Feb, 15, 2012 04:02 AM
I have listed a new property at 212 330 1ST ST E in North Vancouver.
A well maintained and partially upgraded one bedroom in a solid, lower Lonsdale building with skyline views of downtown... Friday, January 13, 2012 New property listed in Lower Lonsdale, North Vancouverby Garth P Raven (Prudential Sussex Realty) on Fri, Jan, 13, 2012 04:05 AM
I have listed a new property at # 508 170 W 1ST ST in North Vancouver.
One Park Lane - GEORGIE AWARD WINNER - High quality finishings throughout this beautiful 2 bdrm, 2 bthm corner suite... Thursday, November 24, 2011 New property listed in British Properties, West Vancouverby Garth P Raven (Prudential Sussex Realty) on Thu, Nov, 24, 2011 04:07 AM
I have listed a new property at 395 STEVENS DR in West Vancouver.
Prime CORNER Building Lot 13,992 sq. ft. Driveway off of Bury Lane on quiet street off Stevens. Value in the land. Flat... Friday, November 18, 2011 New property listed in Lower Lonsdale, North Vancouverby Garth P Raven (Prudential Sussex Realty) on Fri, Nov, 18, 2011 04:06 AM
I have listed a new property at # 2 220 E 4TH ST in North Vancouver.
Here is your chance to own a super two level T/H in the heart of Lower Lonsdale. The main floor features a bright kitchen... Friday, November 11, 2011 New property listed in Cowichan Bay Cobble Hill, BC, Islands-Van. & Gulfby Garth P Raven (Prudential Sussex Realty) on Fri, Nov, 11, 2011 04:06 AM
I have listed a new property at 1765 Cowichan Bay RD in Cowichan Bay, BC.
Saturday, October 29, 2011 New property listed in Pemberton NV, North Vancouverby Garth P Raven (Prudential Sussex Realty) on Sat, Oct, 29, 2011 04:06 AM
I have listed a new property at 1904 GARDEN AV in North Vancouver.
Opportunity knocks for first buyers or those seeking one-level living. Rancher nestled back on a mature, fully fenced,... Thursday, September 15, 2011 New property listed in Lower Lonsdale, North Vancouverby Garth P Raven (Prudential Sussex Realty) on Thu, Sep, 15, 2011 04:10 AM
I have listed a new property at # 1102 125 W 2ND ST in North Vancouver.
Sensational, south-facing, city, water, and sunset views. Two of everything, 2 good size bedrooms, 2 bathrooms, 2... Thursday, September 15, 2011 New property listed in West End VW, Vancouver Westby Garth P Raven (Prudential Sussex Realty) on Thu, Sep, 15, 2011 04:10 AM
I have listed a new property at # 1808 1003 PACIFIC ST in Vancouver.
Gorgeous downtown and false creek views. Floor-to-ceiling windows in this generous size 2 bdrm, well maintained, suite... Sunday, April 24, 2011 New property listed in Sicamousby Garth P Raven (Prudential Sussex Realty) on Sun, Apr, 24, 2011 04:19 AM
I have listed a new property at 813 Trans Canada Highway in Sicamous.
Investor alert! Potential gold mine here. House & shed on a large, flat, corner lot with great highway exposure, yet... Sunday, April 24, 2011 New property listed in Sicamousby Garth P Raven (Prudential Sussex Realty) on Sun, Apr, 24, 2011 04:19 AM
I have listed a new property at 1237 Tunney Avenue in Sicamous.
Here is a great little 3 bedroom 1 bath home with no pad rent & a great investment for the future. Can be purchased with... Thursday, April 14, 2011 New property listed in Lower Lonsdale, North Vancouverby Garth P Raven (Prudential Sussex Realty) on Thu, Apr, 14, 2011 04:17 AM 
I have listed a new property at 208 212 FORBES AVE in North Vancouver.
Investor alert! You or your tenants can watch the fireworks and cruise ships from your suite in this well run lower... Saturday, March 12, 2011 New property listed in Kitsilano, Vancouver Westby Garth P Raven (Prudential Sussex Realty) on Sat, Mar, 12, 2011 04:17 AM 
I have listed a new property at 3123 BROADWAY AVE W in VANCOUVER.
RARE...PRIME Kitsilano location... Historical landmark Hollywood Theatre, family owned and operated for 75 years is now... Saturday, February 5, 2011 New property listed in Lower Lonsdale, North Vancouverby Garth P Raven (Prudential Sussex Realty) on Sat, Feb, 5, 2011 04:05 AM 
I have listed a new property at 303 ST ANDREWS AVE in North Vancouver.
Welcome to St Andrew Mews. Enjoy your morning coffee and picturesque Vancouver Harbour & city views from your large... Friday, January 21, 2011 New property listed in Lynn Valley, North Vancouverby Garth P Raven (Prudential Sussex Realty) on Fri, Jan, 21, 2011 04:04 AM 
I have listed a new property at 206 3187 MOUNTAIN HWY in North Vancouver.
Lynn Terrace II is an excellent 44 unit complex built by Bosa Development Corp. Great central location very close... Wednesday, January 19, 2011 New property listed in Lower Lonsdale, North Vancouverby Garth P Raven (Prudential Sussex Realty) on Wed, Jan, 19, 2011 04:04 AM 
I have listed a new property at 602 540 LONSDALE AVE in North Vancouver.
Come for the exceptional Ocean, Mountain & City view & stay for the premium upgrades & the Lower Lonsdale lifestyle.... Friday, December 3, 2010 New property listed in Mission BC, Missionby Garth P Raven (Prudential Sussex Realty) on Fri, Dec, 3, 2010 04:05 AM 
I have listed a new property at 7545 GRAND ST in Mission.
A must see charming early century heritage style character home, on a large 11,000 sqft duplex zoned corner lot. Features include,... Categories: Ambleside, West Vancouver Real Estate | Arbutus, Vancouver West Real Estate | Boulevard, North Vancouver Real Estate | Brackendale, Squamish Real Estate | British Properties, West Vancouver Real Estate | Calverhall, North Vancouver Real Estate | Canyon Heights NV, North Vancouver Real Estate | Central Lonsdale, North Vancouver Real Estate | Cowichan Bay Cobble Hill, BC, Islands-Van. & Gulf Real Estate | Deep Cove, North Vancouver Real Estate | Hastings, Vancouver East Real Estate | Indian River, North Vancouver Real Estate | Kitsilano, Vancouver West Real Estate | Lower Lonsdale, North Vancouver Real Estate | Lynn Valley, North Vancouver Real Estate | Lynnmour, North Vancouver Real Estate | Mission BC, Mission Real Estate | Mount Pleasant VW, Vancouver West Real Estate | Out of Town, Out of Town Real Estate | Pemberton NV, North Vancouver Real Estate | Roche Point, North Vancouver Real Estate | Sicamous Real Estate | Steveston South, Richmond Real Estate | Upper Delbrook, North Vancouver Real Estate | West End VW, Vancouver West Real Estate
Who's Doing High Fives Now? SEPTEMBER/OCTOBER, 2007
If you think lenders make too much money, you are not alone........ However, it's very likely that you, the borrower, are an eager participant in all those profits. Billions of dollars are literally given away to the banks each year because of consumer pathy. Lenders know this and in fact they "bank" on it. What do we mean?
Well, a recent survey conducted by Canada Mortgage and Housing Corporation reveals that despite all the new mortgage products on the market, people looking to renew their mortgage will more often than not, revert back to their current lender. In fact, according to the report, 81% of them did. Does this make sense when the competition could be offering lower interest rates and better terms? It doesn't. There is some good news though. This same survey indicates that consumers are shopping around slightly more than they were in the past. People that were renewing their mortgage were faithful to their financial institution to the tune of 88% in 2000. By 2006 this dropped 7 percentage points.
This decline in lender loyalty was also very evident in repeat home buyers and people that refinanced their mortgage because of wanting extra cash to make home enovations or consolidate debt. In 2006 only 65% of these consumers went back to their current provider – well down from what it was in previous years. The only category that remained relatively stable was first-time home buyers.
57% of these buyers financed through their banking institution in 2000 and this remained almost constant - 58% in 2006. It would appear that first-time buyers are savvy and cautious when it comes to mortgage debt. Initially, they do their
research diligently when it comes to comparing lenders and what they can offer. However, these very same buyers that were so careful at the start, oon join the ranks of those that are "too busy" at mortgage renewal time to check out and compare lenders. Most people know that banking is a business. However, not all acknowledge that bank
employees are paid to look after the bank's best interests – not yours. In fact these employees have quotas to fill – big quotas! It is amazing that people will go to seminars sponsored by Lenders and expect to be told how to negotiate the best mortgage deal for themselves. Puh-leeze! That's like inviting a fox to the chicken coop to tell the chickens how to avoid getting eaten by him. It makes no sense whatsoever, yet that is exactly what people do. Even more remarkable is the fact that these potential customers believe they are getting sound and unbiased information and actually act on the
advice given by the fox. This can be a very costly mistake.
However, let us explore mortgage renewal in greater detail.
Mortgage funding is extremely competitive. Lenders spend an enormous amount of money just to get mortgage business in the first place and they certainly don't want to lose customers now or at any time in the future.
If homeowners would just take a few hours and shop around for several proposals from different lending institutions when their mortgage term is up, they might be pleasantly surprised about their findings. The chances are that they would quite possibly receive an offer from another Lender that is better in both interest rates and/or terms provided.
Lenders may even pay for all the set-up, transfer and legal fees when the mortgage business is transferred to them. Once a homeowner has different options in hand, the power to choose becomes theirs. They can accept this new favorable proposal or have their current lender match or better it. Odds are, your lender isn't going to be
willing to give up your business without a fight.
How much actual cash could be saved by keeping Lenders honest? Well, let's figure it out. A $300,000 mortgage calculated at 6% over a 25 year amortization period works out to monthly payments of $1,919.42. Conversely, at 5.5% and using the same criteria, the payments are $1,831.18. The difference is $88.24 per month. Now multiply that by 60 (five years of monthly payments) and you will see that by negotiating a better rate, rather than blindly accepting the first offer, you have saved $5,294.40. Really, with a little investigative effort, you could have put a stash of cash in your jeans or made a handsome contribution towards paying off your mortgage. Instead of the Lenders' CEO's counting profits and doing high fives around the boardroom table because of consumer apathy, you could be going on vacation. You may be trained to be loyal but hopefully, not tamed! Next time . . . shop around! |
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