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Brokers Once Again Seize Golden Opportunities

13 April 2013

Remember when there was an outcry in Canada just a couple of weeks ago when Finance Minister Jim Flaherty meddled in Manulife’s mortgage matters? And remember when we told you about the mortgage brokerage that took that gaffe and ran with it, running an ad declaring that while the Minister might not want the consumer to save money, they do? Now, another brokerage has taken advantage of another hot topic in the news, this time creating a campaign around RBC’s recent faux pas.

Scott Dawson is a mortgage broker in Vancouver, and he recently set up an entire action plan consumers can follow if they want to move their mortgage from RBC to another lender. He says the move has worked, and that it’s sheer “gold” for other mortgage brokers, too.

“I created a page on my website outlining what’s required for an RBC client to switch their mortgage,” says Dawson. “After sharing the link to clients and industry associates on various social media sites, it has already become the most visited page on my site. The response to the RBC story has been phenomenal.”

Dawson says that this popularity is due to the fact that this story has touched a particularly sensitive nerve in many Canadians, and it’s caused them to take drastic action.

“A quick search on Twitter and Facebook clearly shows that people are upset about what RBC has allegedly done and are talking about it openly,” he says. “Personally, I know of one person who has already moved all of their day-to-day banking to another financial institution because of it.”

He says that though, that unlike those day-to-day banking services, moving a mortgage is a bit more complicated and customers are going to need help from a professional if that’s what they’re looking to do.

“Possible penalties aside, moving your mortgage is a bit more complicated than just walking into a branch to close your account,” says Dawson. “I set up the page to assist RBC customers so they can become more informed about the process and help them navigate the many Canadian mortgage lenders and help you choose one that makes not only financial sense, but ethical sense as well.”

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