Canadians are increasingly comfortable with shopping online for a mortgage – but most still feel they need face-to-face advice from a professional too, according to a new RateSupermarket.ca poll.
Although 58 per cent of respondents said they would look for a mortgage online, 73 per cent stated it is also important to work with a mortgage broker to get the best deal.
According to RateSupermarket.ca, the survey also found the misconception persists that shoppers must sacrifice professional guidance for online transparency, with 59 per cent saying the main reason they avoid online mortgage shopping is because they want to connect with a broker.
“Finding the perfect mortgage is a team effort,” says RateSupermarket.ca editor Penelope Graham. “While consumers are increasingly willing to explore their options beyond their home bank, it’s clear that brokers play a vital role in turning that research into real value.”
The survey also reported that, out of the 453 respondents:
- 56 per cent said they would not go to a bank for mortgage advice.
- 79 per cent would not turn to family and friends for guidance.
- 47 per cent said they would rely on a mortgage broker to walk them through the process of acquiring a rate.
- 46 per cent stated using a mortgage broker to find the lowest rate was most important.
- 58 per cent of shoppers go online to find mortgage shopping advice.
- Among those who would not shop online for a mortgage, 22 per cent stated they don’t trust online resources, and 19 per cent said they would go directly to their bank.
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