WHAT WE DO

As an independent Mortgage Broker we shop from a pool of more than 50 lenders to obtain the best rate possible. By dealing directly with the lender, the rates we obtain are often lower than your traditional bank as we save the lender the administrative costs and expensive overhead that they would normally have to incur with a local office. In most circumstances, the use of Mortgage Broker is free to the client as the lender pays a fee to the broker when a client takes a mortgage.

The goal of our site is to provide you with many important details regarding your mortgage. We focus on helping you understand the process, how it works and why. We pride ourselves on our knowledge of the market and providing excellent service to our customers. If you do not qualify at a traditional lender our contacts with Private Lenders ensure you a fair rate with minimal fees.

Mortgage brokering is one of those truly rare situations in life where it is a WIN/WIN for everyone involved. It saves the client and the lender; time, energy and, most importantly money.

WHO WE ARE

Meridian Financial Services Ltd. is a high volume Mortgage Brokerage company with average yearly sales exceeding $850,000,000. We are independently owned and operated with franchises throughout British Columbia and Alberta. 

Established in 1995, Meridian maintains an excellent working relationship with the lenders within the brokerage system. Meridian SEL Brokers mainly deal with the major lenders including; Scotiabank, TD Canada Trust, HSBC, ING and CIBC Firstline among others.

Whether you were referred to Meridian SEL Financial Corp. by a Realtor, past client or friend, or just found our web site by "surfing", we hope you find our site straight forward and educational.

THE MORTGAGE PROCESS

In order to get started, we will need to take a short application. This includes your basic personal information which allows us to do a credit check and submit your application to the appropriate lenders. The benefit of using us as your Mortgage Broker is that only one credit check is necessary despite the fact that your application may be sent to multiple lenders. This helps to mitigate the damage of multiple inquiries on your credit bureau which can lead to a decrease in your credit rating.

We, as your broker, will answer any questions you may have, explain the different types of mortgage and terms, provide you with the type of mortgage options, and help you determine the best mortgage to best suit your needs.

In most cases, once your application is submitted to the lenders, we should have a written pre-approval for you to review within a 24 hour period. We will then contact you and arrange a time to review the pre-approval document. For convenience, we can either meet at our local office or in your home. Alternative methods allow us to fax, email, or mail the document to you if necessary.

Once you are pre-approved, your rate may be locked in for a period of 90 to 120 day period. If rates go up, you have the security of knowing that you have a rate locked in. If rates go down, we can re-submit your file to obtain the lower rate. *Keep in mind that throughout this process you are not obligated to either the lender or the Mortgage Broker, just simply pre-approved and protected against any rate increase.

If you are purchasing a new home and have an accepted offer, you would then contact us to process the mortgage and obtain final approval. The lender sends a commitment to issue a mortgage and we will review the terms and conditions outlined. Once your commitment is signed and sent back to the lender, the lender will issue your solicitor/notary the mortgage instructions. These are the actual mortgage documents that will be registered on title. They are sent directly to your lawyer/notary who will be looking after your purchase and are usually presented to you a couple of days before closing, when you will be required to sign in front of your lawyer or notary.

Download printable Mortgage Application Form here »

Return to top