The main difference between a mortgage refinancing lawyer and a single lender (bank) is that a mortgage refinancing lawyer is an agent that handles mortgage products from different types of lenders, but does not target specific lenders.
Getting help from a refinancing lawyer for your financial inquiries can tell you what you need to do to be eligible for funding so you can be sure that you have met all the requirements before actually applying for funding. You can hire a top-rated and experienced refinancing lawyer via https://bracelaw.ca/real-estate-law/refinance/.
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Benefits of hiring a Refinancing lawyer:
1. Most refinancing lawyers do not charge clients/borrowers anything – they only charge the bank they ultimately choose for the client's new loan. That is, filling out and completing a free financial application form for you.
Some people don't understand why this is a free service. Banks are trying to cut costs, especially in terms of labor costs, and one of their methods is to outsource the sale of their loan products to independent agents.
You pay a commission to the refinancing lawyer when the refinancing lawyer persuades a borrower to choose one of their loan products. Commission payments are still less for banks than to pay full-time salaries, taxes, sick and super leave maternity leave, employees, and others.
2. Since refinancing lawyers are freelance agents and are not coordinated with lenders, they are usually self-employed consultants who can set their own hours and arrange client meetings. As a result, they often consider the customer's preferred location and contact time.
If you submit an unsuccessful application yourself and then call another bank, especially if there is a problem with your creditworthiness, you can expect another rejection.