What is Lender Title Insurance? If you are purchasing residential real estate, your Lender will require your lawyer or notary to order Lender Title Insurance for your new mortgage. Lender Title Insurance insures the Lender’s interest in the property that you are purchasing for as long as the insured mortgage remains on the property. It [...]
Posted July 9, 2021 On May 16, 2019, the Land Owner Transparency Act (LOTA) came into effect, and on November 30, 2020, the BC Government implemented the Land Owner Transparency Registry (LOTR). The purpose of LOTR is to “end hidden ownership”, thereby creating a larger pool of affordable housing. Implication for purchases on or after [...]
Updated July 1, 2021 Demand stays strong while supply is dwindling After peaking in March, the provincial housing market is starting to calm, according to the BC Real Estate Association. Residential listings are down 17 percent year-on-year in May and flattening out across housing types. In the Lower Mainland, listings are rising to meet supply, [...]
Are you buying your first home? Good news! You may be exempt from paying Property Transfer Tax (PTT) on your purchase. The First Time Home Buyers' Program reduces or eliminates the amount of property transfer tax you pay when you purchase your first home. If you qualify for the program, you may be eligible for either a [...]
What is the "stress test"? At the beginning of the month, Ottawa released the news that they would be introducing some new measures to make it harder for Canadians to take on a mortgage they can’t afford. On October 17th, 2016, the federal government’s new rules for first-time homebuyers take effect. Now all insured mortgage [...]
