Clinton Wilkins joins Rob Snow on CityNews Everywhere to chat about the Bank of Canada cutting interest rates by 50 basis points. Clinton explains how the rate cut could increase demand by improving affordability.
CTV Mortgage Minute: cottages and purchase plus – July 15, 2021
Clinton meets up with Ana from CTV to talk about cottages and purchase plus improvements in this segment of Mortgage Minute.
CTV Mortgage Minute: cottages and purchase plus
Don’t feel like watching the video? Check out the transcript below.
Transcript:
High demand for cottages
Ana Almeida: [00:00:00:05] Hi, I’m Ana Almeida, and I’m here with Clinton Wilkins, and this month in your Mortgage Market, we’re talking about purchase plus improvements and the increased demand for cottages.
Clinton Wilkins: [00:00:08:08] Well, I think there’s no better time than summer to think about doing renovations to your new home, obviously with 2021. Lots of demand for new purchases of cottages as well.
Ana Almeida: [00:00:18:00] Why are we seeing such an increased demand for cottages?
Clinton Wilkins: [00:00:21:07] Well, I think people are not traveling as much and they’re staying closer to home. And who wouldn’t want to enjoy nature and a great summer at a new cottage?
How do purchase plus improvements work?
Ana Almeida: [00:00:28:08] How does the purchase plus work exactly?
Clinton Wilkins: [00:00:30:18] If you have a quote up front, we can finance a max of $40,000, up to 20 per cent of your purchase price, and you can improve your new home purchase.
Ana Almeida: [00:00:37:08] So if people have any questions, are you the best person to reach out to?
Talk to an unbiased mortgage professional
Clinton Wilkins: [00:00:40:12] I think that people need to seek the device of an unbiased, more professional and feel free to check us out online.
Ana Almeida: [00:00:45:06] So sounds like a great opportunity right now to either, of course, renovate your existing home or potentially call a cottage your own. So thank you so much, Clinton. We’ll see you next time for a Mortgage Minute.
Announcer: [00:00:55:02] For more information about mortgages, check out TeamClinton.ca.
Looking for more information about changes in the market, or other mortgage application advice? Feel free to contact us!
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