By The Westlake Team
1. Just ask. We constantly are finding the best rates for our clients. I just like to emphasize the importance in finding the best rates for YOU. We have a free mortgage app that publishes our rates:
https://www.dlcapp.ca/app/scott-westlake. We also publish on our website. However, I caution using our published rates or any online as I find many client circumstances unique. We have access to 250 + lenders from Banks to Credit Unions, Mono-Line Lenders and Private Capital. Well shop the entire market to find the best rate and terms unique to YOU.
2. We do same day pre-approvals. We have the infrastructure to pre-approve clients quickly without sacrificing the quality. When we pre-approve clients they are accurate. Its a HUGE value proposition to our referral partners including a lot of the top realtors in the area that expect fast and accurate pre-approvals to help in the negotiations during the purchase. We have done pre approvals in less than 10 minutes, when provided the right information up front.
3. I have to generalize this answer since each mortgage is unique. An application, consent to pull credit, income confirmation, down payment verification are consistent documents for purchase, renewals and refinances. Then income documents change based on the type of documentation (we will post that document for reference). For purchases the accepted agreement, listing details. For renewals, mortgage statement and property tax statement, similar to a refinance. We send out a document checklist to our clients based on their circumstance.
4. 1000%. I love the banks and work closely with them both residentially and commercially. However, in terms of providing advise, I love having access to different lenders, products and solutions. That gives us a competitive advantage and allows us to provide the right advise to our clients.
5. Be organized and prepared. Ask what documents are required and have them available to share quickly. Ask questions and work with the right people. There are amazing realtors, brokers and bankers and some pretty bad ones. Thats why we just started asking for testimonials. Its a perfect way we can show our clients and referral sources the amazing job we do each day.
6. Depends on the client. Both have pros and cons. I typically have been a variable client myself. I like the breakage formula (3 months interest) more than a fixed. The average Canadian only has a mortgage for 3 years or so last I checked. Fixed mortgage penalties can be high but also ported. It all depends on circumstances. We don't choose for our clients. We provide advise and guidance and they choose.
7. Yes and No. We will bring in more help to service our clients and continue to build on our amazing infrastructure. In terms of agents it has to be the right fit. I encourage agents to reach out but I need to be able to add value in their career and they need to be willing to work hard and share similar ethics. I love newer agents that are adaptable and watching their career take off with the right support!
8. Tough question. So many great lenders. They are an extension of our business. I wouldn't say better or worse. I would say different lenders have different products and solutions and we help clients find the best one so each experience interacting with that lender is amazing!
9. Market outlook is positive. I love real estate and believe it will always be a terrific investment. Financing it is becoming complicated and we need to adapt to changing policies to ensure our clients are looked after. We need to surround ourselves with amazing team members when buying and selling real estate, refinancing and renewing mortgages.
10.
2. Be our clients and referral sources singular point of contact for all mortgage needs.
3. Give back to our community (the one we live in and the one we work in).
Bonus Question:I loves emails if not urgent as I can flag them and decision them quickly. Phone calls for anything urgent. Texts for quick questions and decisions. Our webforms on our homepage for general inquiries. Hopefully as our social grows we will get more DM's with people looking to do business together.