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Lumsden noted the definition of a mortgage broker was one that:
Carried on a business of providing credit assistance in relation to credit contracts secured by mortgages over residential property;
Did not perform the obligations, or exercise the rights, of a credit provider in relation to the majority of those credit contracts; and
In carrying on the business, provided credit assistance in relation to credit contracts offered by more than one credit provider.
Examples, she said, of situations where best interest duty would apply even if the product was not a mortgage were:
Someone who met the definition of mortgage broker advising on personal loans and credit cards;
Antoine Feghali, a ThreeBestRated® award-winning Mortgage broker in Laval, shares his story
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