The people you are dealing with at your bank are compensated for everything except helping you with your renewal.
At some time or another, you’ve been standing in front of your bank teller and they’ve asked; ‘Can I tell you about some special offers we have for you?’
One of the reasons bank employees are anxious to tell you about the credit card, credit line or special account on special offer is the more sign ups they get the bigger their bonus is.
The bonus is important to them because for most, it can be as much as 20% of their annual compensation.
The sales aspect of any banking role is probably the most challenging for the employee but also the most important.
You know what they don’t get compensated for? Helping clients get the best renewal terms possible. That means that there’s really no one available to help you get the best terms at renewal or even advise you on what the best option is.
So how do you manage the renewal so that you are covered?
Step 1: Ask your bank for the best terms they are prepared to offer.
Step 2: Take the offer to a mortgage broker, who acts in your best interest, to see what better terms are available.
In addition to great renewal terms, you’ll get solid advice on what option is the best fit and the advice you’ll get is unbiased. Let a broker help you renew your mortgage.
Call me anytime for assistance.
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