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Justin - Victoria BC

Dealing with Andrew at Victoria Best Mortgage was a great experience. He was always quick to answer any emails and always returned calls immediately which was a great change after always being frustrated dealing with big banks for a mortgage. I will use this company for all my mortgage needs in the future, no need for big banks, thanks Andrew!

Ally - Victoria BC

I had an excellent experience getting my mortgage through Andrew Libera at Victoria’s Best Mortgage. Andrew very quickly understood my particular circumstances (whew), and therefore he was able to identify the best mortgage plan for me. Then he found the lender and made it happen! This translates into excellent long term planning for me. I feel as though I can breathe financially. Plus I know I got the best rate. He did exactly what he said he would do, & was always quick to answer my emails and phone calls. He helped me through what could have been a very stressful time, and instead he made it a smooth and straight forward process. Andrew is very knowledgeable and professional. He told me exactly what to expect. He is very easy to speak with, and a good listener. I feel very comfortable giving him a 5 star review. i would recommend him to anyone shopping for a mortgage.

Kris - Victoria BC

Thanks Andrew! Really puts clients first and works hard finding the best product. Very friendly and professional. Best broker in Victoria!

Debt Consolidation Mortgages
(...what you need to know)

Consolidating debts into a longer term mortgage structure can be a challenging decision.  The further behind a borrower gets and the higher the debt balances and minimum payments rise,  the less options become available.  In every debt consolidation situation it is critical to explore the options as soon as the need for some relief situation.  If the situation has gone too far we work with many lenders that will take on a more risky situation for a year or two so that we can re-structure and have you back with a traditional lender as soon as possible.  There is a premium for these lenders but compared to alternative of a potential consumer proposal or bankruptcy which will have a devastating effect on your credit for years to come, this is a relatively small price.  

How It Works:

Step 1: Your Unique Situation

We look at the big picture. What debts should be repaid, what can you afford to service each month and what equity is available. Together we make a solid plan to lower your monthly payments and minimize the amount of interest you are paying.


Step 2: The Mortgage Structure

We build your application and assess the market for the right product and the lowest rates and appropriate terms. There are many different products available depending on your equity position, credit rating and income situation. The majority of the time we can find the ideal solution the same day.


Step 3: Your Fresh Start

We work with the chosen lender to quickly pay out your existing debt and replace it with a lower interest single mortgage payment. We arrange the appraisal and organize the signing. The whole process can take less than a week from start to finish.


Victoria Mortgage News and Information

Bank of Canada to maintain current level rate policy

Bank of Canada will keep present level of policy rate until inflation objective is achieved, recalibrates its quantitative easing program The Bank of Canada today maintained the target of its for the overnight price on the highly effective lower bound of ¼ %, with the Bank Rate at ½ %

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2020 Thoughts on Fixed vs Variable

Fixed or adjustable – it is the ongoing mortgage product decision many mortgage buyers are faced with. And it has only been made more complex since the beginning of the pandemic. Towards the second half of 2019, variable rates have been the most obvious and popular choice. But a great

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Affordability and Alternative Lending Options Part 1

Motions within the rental market are excellent signs of the state of housing affordability. When folks cannot find the money to purchase, they rent, and also when there is an influx of renters in a field with constrained housing supply, landlords are in a position to demand more. In Victoria

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Mortgage Stress Test Rate Drops to 4.79%

The Canadian national mortgage benchmark qualifying rate, or stress-test rate, has dropped for the second time in the past three months after 5-year fixed posted rate cuts by Canada’s major banks. The qualifying rate is now 4.79%, down from 4.94%. The current benchmark rate of 4.79% is just 0.15% above

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Canadian & U.S. Central Banks Respond to Covid-19

On Friday afternoon March 13, 2020, Canadian policymakers from the Department of Finance, the Bank of Canada and the Office of the Superintendent of Financial Institutions (OSFI) announced a coordinated response to alleviate economic stress caused by the COVID-19 pandemic. The emergency measures, which are intended to ensure that the

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* Limit one $500 voucher per person. Application must be complete and you must have a pre-approval consultation.