Real Estate

HELOC - No fees/best rate?

  • Last Updated:
  • Mar 22nd, 2017 1:48 pm
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Deal Addict
User avatar
Dec 4, 2007
2434 posts
445 upvotes
Quebec
interested to know also.

right now i am with BNC heloc, they used to be free of charge. only for the the interest, but 2 years ago, they introduce a new monthly fees of 6$.

no big deal here, but by principle i do not agree with it. look like i have no other choice to stay with them, it cost too much in legal fees to change an heloc to another bank.

except if there is another bank that agree to pay for notary / lawyer fee to change the heloc contract.

thanks for the help.
Jr. Member
Aug 19, 2013
168 posts
31 upvotes
Etobicoke
HyperTech wrote:
Feb 21st, 2017 7:36 pm
interested to know also.

right now i am with BNC heloc, they used to be free of charge. only for the the interest, but 2 years ago, they introduce a new monthly fees of 6$.

no big deal here, but by principle i do not agree with it. look like i have no other choice to stay with them, it cost too much in legal fees to change an heloc to another bank.

except if there is another bank that agree to pay for notary / lawyer fee to change the heloc contract.

thanks for the help.
I think PC financial covers legal and appraisal fees, only cost is $150 for application. Rate is P +0.5

The one-time $150 fee is for processing, appraisal and registration. Additional, non-refundable registration or conversion fees may apply in Alberta, Newfoundland & Labrador, PEI, Nova Scotia and New Brunswick. You must pay for independent legal advice, if required, and any additional expenses and fees. Our set-up offer may be changed, withdrawn or extended at any time without notice.
Newbie
Mar 20, 2016
20 posts
8 upvotes
calgary
Menthol wrote:
Feb 20th, 2017 6:24 pm
Anyone heard any news of this
I've been waiting for TD waiving fee promo too. and now seems they have it, i am just chatting with my friend who works there, will know shortly.
Deal Addict
Mar 14, 2004
2612 posts
156 upvotes
North Etobicoke
VadimSk wrote:
Feb 22nd, 2017 9:33 pm
I've been waiting for TD waiving fee promo too. and now seems they have it, i am just chatting with my friend who works there, will know shortly.
Keep us posted, also how long the promo will be for.
Thanks.
Newbie
Mar 20, 2016
20 posts
8 upvotes
calgary
Menthol wrote:
Feb 22nd, 2017 10:18 pm
Keep us posted, also how long the promo will be for.
Thanks.
Seems all real: "in house and appraisal fee waiving campaign". She said the promo begins Mar 4; so i am starting to collect all documents; letter of employment, T4/T5, property assessment, tax notice; this is what she asked for.

Ask your local branch for details.
Deal Addict
User avatar
Feb 16, 2004
1428 posts
41 upvotes
York Region
Just spoke to PC financial - no promo. It is their regular $150 rate for HELOC....
Newbie
Feb 9, 2008
35 posts
TD is currently telling me they will "waive" all fees if I borrow 50k for 3 months. Is this last year's deal or will March 4th be no strings attatched.......
Member
Nov 13, 2007
240 posts
36 upvotes
Toronto
Is the TD promo official? I called the info line and they had never heard of it. If someone could give some details I would appreciate it.
Thanks
Newbie
Mar 20, 2016
20 posts
8 upvotes
calgary
VadimSk wrote:
Feb 23rd, 2017 3:21 pm
Seems all real: "in house and appraisal fee waiving campaign". She said the promo begins Mar 4; so i am starting to collect all documents; letter of employment, T4/T5, property assessment, tax notice; this is what she asked for.

Ask your local branch for details.
Update: she called me yesterday, saying she was just after vacation so misunderstood that the start day is Mar 16 not Mar 4th, i re-booked my appointment.

And this is in Calgary, not sure if other provinces/towns have different time frame or if have it at all. I've been waiting for this deal for 4 months, hope they waive as she said
Sr. Member
Apr 1, 2005
610 posts
15 upvotes
Leslieville
did mcap offer you the HELOC or did you ask them?
Newbie
Apr 6, 2008
84 posts
25 upvotes
TO
VadimSk wrote:
Mar 3rd, 2017 7:40 pm
Update: she called me yesterday, saying she was just after vacation so misunderstood that the start day is Mar 16 not Mar 4th, i re-booked my appointment.

And this is in Calgary, not sure if other provinces/towns have different time frame or if have it at all. I've been waiting for this deal for 4 months, hope they waive as she said
Thanks for the update. Waiting from ON.
Member
Sep 19, 2012
365 posts
213 upvotes
Calgary
VadimSk wrote:
Mar 3rd, 2017 7:40 pm
Update: she called me yesterday, saying she was just after vacation so misunderstood that the start day is Mar 16 not Mar 4th, i re-booked my appointment.
And this is in Calgary, not sure if other provinces/towns have different time frame or if have it at all. I've been waiting for this deal for 4 months, hope they waive as she said
If you're an Alberta resident why wouldn't you apply for a HELOC at Rocky Credit Union? Instead of the "standard" prime+50bps you could probably get prime. You can get the same deal with the TransCanada Credit Union (that one doesn't need Alberta residency, but does require you to be an employee/former employee of TransCanada). If you can't negotiate waiver of setup fees, the 50bps interest savings should offset that (depending of course on how big your HELOC balance ends up being).

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