[HSBC] Variable Rate Mortgage - Prime minus 0.96%
- Retailer:
- HSBC
HSBC has come out with an industry leading variable rate mortgage. Prime minus 0.96% (1.99% as of today's prime). Other terms:
- 20% prepayment (original balance) per year.
- Available for refinances or mid-term switches
- Mortgage needn't be previously insured
- $1500 cashback if mortgage > $500k and payments made out of HSBC chequing account
- $500 cashback if mortgage > $200k (but less than $500K) and payments made out of HSBC chequing account
- legal fees + appraisal fees not covered (one could apply cashback toward that)
- closed term for 3 years; penalty is 90 days interest; after 3 years mortgage is fully open
- $300 welcome bonus by opening HSBC Advance Chequing Account (which would be no-fee if mortgage > $150k)
Last edited by ahlaker on Jul 14th, 2017 10:13 am, edited 1 time in total.
Nikola Alaica, CPA, CA | Tax, Accounting, Mortgages