Licensing and disclosure

Provincial licensing

Mortgage brokering in Canada is regulated province by province. Lendmax operates as a licensed mortgage brokerage, and every individual who advises you on a mortgage holds a current licence in the province where the property is located — for example the Financial Services Regulatory Authority of Ontario (FSRA), the BC Financial Services Authority (BCFSA), or the Real Estate Council of Alberta (RECA).

Publisher note: insert your brokerage licence number, principal broker name, head office address and the provincial regulator for each province you are licensed in before this site goes live. Regulators require these details to be displayed.

How we are paid

On standard residential mortgages placed with institutional lenders, the lender pays the brokerage a finder's fee when your mortgage funds. There is no cost to you and the rate quoted to you is not increased to cover it.

On alternative and private mortgages a broker fee may apply. Where a fee applies, it is disclosed to you in writing, in advance, in the mandatory disclosure statement your province requires — including the amount, who pays it, and how it is calculated. You will never be charged a fee you have not seen and signed for.

Your disclosure statement

Before you sign a mortgage commitment we provide the written disclosure your province requires. It sets out the lender, the principal amount, the interest rate, the term, the payment, all fees and charges, the annual percentage rate, and any conflict of interest. Read it. Ask questions about anything that is not clear, and do not sign until you are satisfied.

Complaints

If something has gone wrong, tell us first — call 888 350 0202 or email hello@lendmax.ca and ask for the principal broker. If we cannot resolve it, you have the right to complain to the mortgage regulator in your province, and we will give you their contact details on request.