THE mortgage market can be overwhelming. With so many options at varying costs and term lengths, it can be difficult to make a decision. There’s also the added stress of wondering whether the choice being made is the right one. It helps immensely to have unbiased advice and that is exactly what mortgage broker Mike May offers. “I act as a liaison officer or intermediary who helps home buyers find the best mortgage and lender for their financial circumstances,” May says. As part of the Premiere Mortgage Centre team, May works with a wide range of lenders to identify the terms and rates that are best suited to each individual home buyer. “As an independent broker, I have access to over twenty lenders, thus a variety of options are available to any client,” notes May. Whether it’s for a new home, renewal or refinancing, May can answer all the questions homeowners and prospective buyers have about mortgages.
“The important part is to make sure that a client understands what’s involved when building a property. Is it going to be a self-build? Contractor build? Do they require progress draws or can it be done via turnkey? Is the builder part of the Lux Program and Atlantic Home Warranty Program? It’s also critical to understand how the process works with interest rates during construction,” May explains. Homeowner questions also extend to refinancing an existing mortgage, which people opt to do for a variety of reasons, including consolidating debt, renovations or transitioning a basement into a rental unit to use as an additional source of income. The process of renewing a mortgage is another area where people frequently request May’s assistance, to ensure the best solution for now and the future. As with any financial transaction, the paperwork for mortgages is substantial. May makes clear from the beginning what types of documentation are required from the client to ensure the process goes as smoothly as possible. To provide the guidance his clients rely on, May calls upon his nearly 30 years of experience in the financial services industry and a lifetime of living on the Island. “I was born and raised on PEI,” he notes. A graduate of UPEI, he studied both business and public
administration. After a long tenure in the banking sector where he held a variety of management positions, he moved to his current role at Premiere Mortgage Centre. For May, it’s all about service and connection. “I take great pride in providing sound financial advice to clients and building relationships throughout the process.”
“As an independent broker, I have access
to over twenty lenders, thus a
variety of options are available to any client.”
For first-time home buyers, it is important to understand all the
considerations that go into securing a mortgage, but also the different government programs designed to help people save for that all-important purchase. “I get great satisfaction helping people purchase their first home,” says May. “It is the most important decision in a person’s lifetime and helping with that process is extremely gratifying.”
PREMIERE MORTGAGE 425 Brackley Point Road, Unit 4 Charlottetown 902.330.2935 www.peimortgage.ca
For those opting for a new build, a different set of questions may arise.
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