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Mortgage Broker Store Announces a New Peterborough Private Lender Program for Second Mortgages


Peterborough, CA -- (SBWIRE) -- 09/23/2014 -- Mortgage Broker Store  now has dedicated agents to provide private mortgages and second mortgages in the Peterborough area. The agents are based in the Peterborough and can meet with client personally to arrange a mortgage . The agents work with clients to ensure a smooth approval process and get them the lowest interest rate possible.

The combination of high household debt and low wage growth has resulted in many Peterborough residents being turned down by the local financial institutions. Recent changes by the Bank of Canada and the Canada Mortgage and Housing Corporation means that many Peterborough residents that previously qualified for a mortgage no longer qualify for a mortgage.

Statistics Canada recently reported that Canada's ratio of household debt to disposable income rose between April and June to near record levels. The ratio increased from 163.1 to 163.3 per cent, this means that Canadian owe $1.63 for every $1.00 that they earn. A survey by the Canadian Payroll Association also found that more Canadians feel that they are living paycheque to paycheque, saving less and not meeting their financial goals. Many Canadians are experiencing stagnating wage growth and deteriorating job quality.

Mortgage Broker Store can help homeowners that have been turned down by providing alternative lenders. Our private lenders that can provide first and second mortgages. The private lenders are not restricted by CMHC regulations and can lend up to 85% on qualified properties in Peterborough. Ronald Alphonso, (President of Mortgage Broker Store)  stated that "we are increasing the options for the people of Peterborough".

Any questions regarding a second mortgage or private lenders in Peterborough please email or call 416-499-2122.

About Ronald Alphonso
Ronald Alphonso is a mortgage agent, licence number M11001286. Find more information on private lenders in Ontario at web site