A strategic partnership between insurance and tech firm Valeyo and credit information provider Equifax has been announced.
Faced with higher interest rates and tougher mortgage qualification rules, many Canadians have turned to the new condo market as a more affordable shot at homeownership. One property type that hasn’t been as attractive? Townhouses.
“Many of the rule changes over the past 10 years have made it really hard to buy a home beyond your primary residence,” he said. “This rule change is focused squarely on that. It has no effect on your owner-occupied residence, but will make it more difficult to purchase a second home or rental property. Many clients will be forced to choose between the security of having a credit facility should they require it, and purchasing that second property.”
NEWSLETTER SIGN UP
- Office:141 Torbay Road, NL
- Direct:(709) 770-9194
- Fax:(709) 754-0466