B.C.’s New Mortgage Services Act: What Vancouver Clients Need to Know This July
This July marks a pivotal moment as B.C.’s long-promised Mortgage Services Act (MSA) finally begins to take effect. As a trusted mortgage broker in Vancouver, BC, Chad Watts – Mortgage Broker at TMG breaks down how these regulatory changes enhance service quality and client protection.
What Is the Mortgage Services Act?
The new MSA replaces the decades-old Mortgage Brokers Act, introducing stricter licensing, oversight, and disciplinary measures for mortgage professionals (B.C. Financial Services Authority, 2025). Effective July 1, 2025, all mortgage brokers, lenders, and brokerages in B.C. must adhere to updated standards enforced by the B.C. Financial Services Authority.
Why Vancouver Borrowers Should Pay Attention
• Enhanced Consumer Protection
Expect clearer rules around disclosure, handling client compensation, and managing conflicts of interest.
• Greater Professional Accountability
Broker education standards, ongoing compliance checks, and disciplinary tools mean you can trust your mortgage advice will be reliable.
• More Transparency in Mortgage Selection
The MSA requires full transparency about lender products, fees, and terms—helping you make informed decisions.
How This Improves Your Experience
At Chad Watts – Mortgage Broker at TMG, here’s how these changes benefit you:
Improved Clarity: You'll receive clear explanations of fees, commissions, and broker responsibilities.
Tailored Expertise: Our team invests continuously in education and licensing to meet elevated B.C. standards.
Trustworthy Guidance: With enhanced oversight, your mortgage process is more transparent and accountable.
What You Should Do
Ask the Right Questions – Inquire about your broker’s compliance with MSA standards and what it means for your file.
Choose Licensed Professionals – Always work with brokers who can clearly demonstrate their compliance and licensing under the new Act.
Request Full Disclosure – Ensure you're informed on fee structures, lender roles, and mortgage products at every stage.
Is This a Good Time to Act?
Absolutely. With the MSA’s rollout, transparency and protection are stronger than ever. Whether you’re buying, refinancing, or leveraging equity in Vancouver today, your mortgage journey just became safer and clearer—with professional guidance that meets new provincial standards.
Ready for Expert Advice?
Let’s chat about how the new Act impacts your mortgage plan. Schedule your free consultation today by visiting our Google Business Profile for trusted, compliant mortgage expertise in Vancouver.
Chad Watts – Mortgage Broker at TMG The Mortgage Group
