North East Mortgages in the news: "Brokerage benefits from RBC?"

Wow Vernon Clement Jones from MortgageBrokerNews, just wrote an article about North East Mortgages and Terry Kilakos (Founder and President).

"Try not to snicker, but one brokerage has found a way to piggyback off of RBC’s success, relocating to a storefront the bank only recently vacated after 30 years.

“I don’t think they knew it was being leased to me,” said Terry Kilakos, a chartered Mortgage Broker and owner of VERICO North East Mortgages in Montreal. “All’s fair in love and war, though, and this location is not only great because it`s a corner lot on a high-traffic area, but it’s been identified as a bank for decades in the minds of consumers, which should help grow our walk-in traffic.”

That’s usually why banks vacating old branch locations avoid selling to other financial services players.
In fact, they frequently rely on sales agreements holding the buyer to a moratorium on that kind of business for as long as five years. Kilakos is leasing from the new owner of the stone-clad building and hasn't entered into any agreement with the bank.

He moves into the leased 3,000 sq.-ft. spot at the heart of Montreal`s Saint-Laurent borough on April 1."

To read more check out the rest of the article...