SOURCE: Mew & Company

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November 02, 2015 10:30 ET

Vancouver Chartered Accountants Issue Warning Against Condo Rush

Vancouver Chartered Accountants at Mew and Company Say Pre-buyers Must Plan Ahead to Avoid Financial Roadblocks

VANCOUVER, BC--(Marketwired - November 02, 2015) - Mew and Company, a team of chartered accountants in Vancouver, have released an online article that advises pre-buyers to ensure they qualify for financing before closing date. For more information, go to http://www.mewco.ca/tax/blog/

In a housing market as expensive as Vancouver's, the lure of becoming a homeowner for as little as $5000 can seem irresistible. But it's important to plan for a day down the road when the building is complete and financing is required.

"Although the concerns about higher interest rates and property values are certainly worth considering, it's typically more personal circumstances that can disrupt financing," states the blog.

Even if low interest rates persist three years from now, an investor will still need to qualify for a mortgage upon completion.

"Many unplanned events can occur that can put qualification at risk. Examples include a marital breakdown where spousal payments are required, a job loss due to an economic downturn, or a business contraction, especially if you are self-employed or a small business owner."

The bottom line, advises the blog, is that if your income is weak, it's important to find ways to make it stronger. Banks and lenders generally require personal and business tax returns for the last two years as part of the process of assessing credit worthiness. Don't wait until the building is complete to start thinking about financing.

About the Company

Mew and Company chartered accountants in Vancouver, is an ideal solution to the taxation problem. With their simple philosophy of building long-lasting customer relationships, the company has been serving corporate clients in a variety of industries-including professional corporations and IT specialists. Investing in their specialist services will undoubtedly be fruitful for all kinds of clients.

To learn more about Mew and Company and discuss their accounting services, log on to http://mewco.ca/

Company Website: http://www.mewco.ca

Contact Information

  • Lilly Woo
    Mew and Company
    604 688 9198