Real Estate News -The Government is announcing home mortgage lending has four measures for new government-backed insured mortgages with loan-to-value ratios of more than 80 per cent: Reduce the maximum amortization period to 25 years from 30 years. This will reduce the total interest payments Canadian families make on their mortgages, helping them build up equity in their homes more quickly and pay off their mortgages sooner. The maximum amortization period was set at 35 years in 2008 and further reduced to 30 years in 2011. Lower the maximum amount Canadians can borrow when refinancing to 80 per cent from 85 per cent of the value of their homes. This will promote saving through home ownership and encourage homeowners to prudently manage borrowings against their homes. Fix the maximum gross debt service ratio at 39 per cent and the maximum total debt service ratio at 44 per cent. This will […]

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These are my personal tips that you should consider when buying a property. 1) Research is the key Always do research. You can never do enough research. A lot of people dive into the property market head first and blind folded, and that’s when people make bad purchases. If you like a property, find out about the surrounding area; find out the local crime rate, find out how much properties in the area recently sold for. Find out EVERYTHING. There are tonnes of websites out there that will give you all these details at no cost. Start with my website https://vancouvercanadahomes.com 2) Prepare yourself financially Financially prepare yourself before you make any offers- get financially sorted. Make sure you can afford the property. Make sure you have taken every cost into consideration, like conveyancing solicitors, stamp duty, survery fees, Real Estate Agent fees etc. Most importantly, make sure you can […]

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