Merix Financial on Monoline Lenders Make Yourself At Home with a MERIX Mortgage

Whether you’re shopping for a new mortgage, refinancing or looking to switch your current mortgage, MERIX Financial has a solution to fit your specific need. Canadian owned, MERIX Financial specializes in residential mortgages, servicing mortgages across Canada. MERIX Financial prides itself on exceptional customer service, investing in technology, product development and people in order to provide the best possible customer experience.

Haven’t heard of MERIX before? This video will help you understand why

At MERIX Financial, our customized mortgage solutions are designed to help you achieve your goals.

“I like the fact that MERIX Financial is a very progressive company and I sense that MERIX Financial is constantly making positive

changes and improvements in every aspect of their service and their relationship with their customers”

Our MERIX Approved Mortgage Brokers, which includes Irene Strong, can provide you with qualified, expert financial advice and help you with:

  • Mortgage pre-approvals
  • Purchasing a home
  • Refinancing a home
  • Competitive interest and payment options Purchasing a rental Products to help you renovate your home.
  • Options for your existing mortgage

Learn more about MERIX Financial through our website andrew-howard-150x150Submitted by:

Andrew Howard Director, Business Development Merix Financial


First National on Collateral Mortgages

Over the last few weeks I have received numerous questions on collateral mortgages, specifically around how they differ from a standard mortgage and why they aren’t transferable.

A Collateral mortgage is a mortgage charge typically registered on title as security for a promissory note, demand note or line of credit agreement. Collateral mortgages can encumber the full value of the property and generally do not contain any information on the registered document on the amount of the mortgage, interest rate, repayment schedule etc. Due to this information not being on the registered document and the non-standard terms, most lenders will not transfer a Collateral. There are some distinct advantages and disadvantages to this type of mortgage and they are:

Advantages – Can secure a multitude of credit products and subject to qualifying a client can increase their indebtedness without registering a new mortgage.

Disadvantages – A Collateral charge can encumber 100% of the property value.  If  the borrower does not meet the current lenders guidelines or that lender does not have the product the borrower wants, financing may not be able to be obtained. Since the mortgage is not transferable, the borrower may be at the mercy of their current lender’s rates at renewal.  If the borrower ever falls into arrears, most lenders reserve the right to increase the interest rate on the debt. If circumstances or regulations change or needs require non-traditional bank financing, this type of charge can be highly restrictive

First National does not register Collateral mortgages and we have a Zero Advance Refinance Program to move clients with high ratio collateral mortgages to First National if they are not being offered competitive rates at renewal by their current lenders.

ABOUT FIRST NATIONAL First National is Canada’s largest non-bank lender, offering both commercial and residential mortgage solutions.

Through a combination of our innovative mortgage solutions, Merlin – our industry leading mortgage approval and tracking system, and the experts we have on our team, First National has earned the trust of Mortgage Brokers, Commercial Clients as well as Residential Customers.

These strong relationships are thanks to an unwavering commitment to delivering excellent service. A commitment shared by Senior Management and every member of the First National team.

Learn more about First National.

JoseSubmitted by:

Jose Dos Santos Account Manager, Vancouver, Richmond First National Financial LP

Canadiana Financial on Purchase Plus Improvements

Canadiana Financial has a fantastic product for high ratio clients (buyers with less than 20% down payment), and especially first-time homebuyers. Buyers can access up to 95% of their “improved value” of their home to do renovations at the time of purchasing.

Don’t waste money on higher interest rate line-of-credits or waiting until it’s too late and you can’t access the equity through a refinance. Consider renovations before signing your mortgage documents and roll your improvements into one easy, low interest mortgage, like Canadiana’s 5-year 2.99% special.

Increase your property value, make your home more comfortable and upgrade with modern features using Canadiana Financial Corp Purchase Plus Improvements Mortgage Option.

ABOUT CANADIANA Canadiana Financial Corp, founded in 2010, is a Canadian lender with offices in Toronto and Vancouver. Canadiana focuses on partnering with valued mortgage brokers to provide insured residential mortgages across the country. The company is distinguished by its strong commitment to providing brokers and their clients with exceptional service levels and support. Canadiana’s experienced management team, knowledgeable staff, and broker-centric approach have ensured the growing success of the company in the Canadian mortgage market.

At Canadiana, we are proud to have a unified vision and mission. We operate each day with a core set of values at the heart of everything we do.

Learn more about Canadian Financial Corp.

Lisa Tran

Submitted by:

Lisa Tran Director, Business Development Canadiana Financial Corp.