When not to trust your mortgage lender
According to fresh data from the Financial Services Regulatory Authority of Ontario (FSRAO), nearly half of folks believe banks will treat them fairly — the kind of blind faith usually reserved for seeing-eye dogs and weather apps before a wedding.
Meanwhile, independent mortgage brokers — the ones who actually compare multiple lenders and don’t just hand you the house wine — score only about half as high in FSRAO’s trust survey.
At the end of the day, trust is great for relationships — less so for locking in a superior mortgage deal.
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The late U.S. president Ronald Reagan famously said, “Trust but verify.”
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When you’re getting a mortgage, it’s the other way around. Verify then trust.
