As a mortgage broker in British Columbia, it is important to have access to the tools and resources that can help you better understand a property that you are working with. You play a critical role in simplifying the transaction process for borrowers, and it is important that you have the insight you need to thoroughly conduct your due diligence on a property.
In an effort to arm you with those necessary resources, PurView now offers brokers and agents in British Columbia the ability to purchase BC Documents and Plans, including Mortgage Form B directly through the platform. This essential document provides you with critical insights that can help you throughout the application process and offer exceptional service to your clients.
How you can leverage Documents and Plans in your daily business
Now having access to directly purchase BC Documents and Plans through PurView, you have streamlined access into extensive property and mortgage information that can be critical to conducting your business. Directly from the Land Title and Survey Authority, a Document refers to any land title forms that are submitted when registering an interest in land in the province of British Columbia. This can include a mortgage, title information, easements and more.
A plan, which is a survey conducted by the land surveyor, shows the property from a geographical perspective. This can be necessary to understand the exact lines of the property.
These registered documents can be critical in conducting your due diligence for your clients and furthering driving into a property.
What is Mortgage Form B?
Mortgage Form B is a document direct from the Land Title and Survey Authority (LTSA) of British Columbia which outlines those details of a registered mortgage. This document can contain key information; however, it is dependent on the property itself. Some of the details you could obtain from the document are as follows:
- The amount of the mortgage
- Outstanding balance on mortgage
- Payment terms
- Renewal and maturity date
- Liens or encumbrances on the property
This form serves as an overview of the mortgage’s status, making it an essential resource for assessing financial obligations tied to a property.
How can you leverage it in your daily business
This report offers you precise information that you can leverage to tailor your services to your clients. With this transparent view of the property, you can identify any refinancing opportunities, assess your client’s financial standing or avoid any unexpected issues that may be flagged in the document. With access to this document in PurView, you can advocate more effectively for your clients and deliver timely and accurate advice.
Coupled with the PurView Property Report for British Columbia and a Title Search, Mortgage Form B can be an essential additional resource to help you navigate the mortgage process and conduct your due diligence. Access to this document can help you mitigate fraud, understand your clients better and offer them the confidence they need when going through the application process.
Learn more about the Mortgage Form B by clicking here.
