Expired Hot Deals

[HSBC] Variable Rate Mortgage - Prime minus 0.96%

  • Last Updated:
  • Sep 27th, 2017 10:57 am
[OP]
Member
Sep 19, 2012
493 posts
339 upvotes
Calgary

[HSBC] Variable Rate Mortgage - Prime minus 0.96%

Retailer:
HSBC
More offers from 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.
215 replies
Deal Expert
User avatar
Apr 21, 2004
44268 posts
11286 upvotes
Nice. Immigrants are also more likely to have dealt with HSBC back home.
Deal Guru
User avatar
Oct 24, 2012
11417 posts
2391 upvotes
Montreal
ahlaker wrote:
Jul 14th, 2017 10:13 am
closed term for 3 years; penalty is 90 days interest; after 3 years mortgage is fully open
So it's a 3 year term? Or it's a 5 year term, but you have no penalty after 3 years?
[OP]
Member
Sep 19, 2012
493 posts
339 upvotes
Calgary
alkizmo wrote:
Jul 14th, 2017 10:29 am
So it's a 3 year term? Or it's a 5 year term, but you have no penalty after 3 years?
Bingo. 5 year term with no penalty after 3 years (per HSBC rep)
Deal Guru
User avatar
Oct 24, 2012
11417 posts
2391 upvotes
Montreal
ahlaker wrote:
Jul 14th, 2017 10:31 am
Bingo. 5 year term with no penalty after 3 years (per HSBC rep)
Neat
Sr. Member
Mar 14, 2006
732 posts
321 upvotes
Toronto
That is a great deal...I wish my mortgage is up for renewal....
Deal Addict
User avatar
Sep 14, 2003
4577 posts
232 upvotes
Burnaby
Hmm, nice product indeed. Currently have a P-0.55 but with such a rate difference, may be worth it to break current mortgage to go with this.
Items for Sale:
...nothing for now...


References: eBay Feedback
Deal Guru
User avatar
Mar 14, 2009
11840 posts
4572 upvotes
When does this expire?
I am a Public Mobile, Zoomer, and Koodo customer.
Moderator
User avatar
Mar 23, 2004
36871 posts
3523 upvotes
Markham
Smiley22 wrote:
Jul 14th, 2017 11:41 am
That is a great deal...I wish my mortgage is up for renewal....
+1, and my current mortgage is already with HSBC :lol:
「もし、奇跡を起こせたら……」
Deal Addict
User avatar
Sep 4, 2005
2767 posts
566 upvotes
Toronto
That's a nice deal!

What are the bank fees like to keep their chequing account open? How long do you have to pay out of the chequing to be elgible for the $1500; can you change it after a month? year? 5 years?
Newbie
Jan 20, 2011
47 posts
16 upvotes
Toronto
What's the catch? This actually looks like a good deal on a mortgage
By Grabthar's Hammer, what a savings
[OP]
Member
Sep 19, 2012
493 posts
339 upvotes
Calgary
gheart008 wrote:
Jul 14th, 2017 12:12 pm
Hmm, nice product indeed. Currently have a P-0.55 but with such a rate difference, may be worth it to break current mortgage to go with this.
Definitely. I'm on p-70bps and am all but certain to switch in.
Super_Chicken wrote:
Jul 14th, 2017 12:20 pm
What are the bank fees like to keep their chequing account open? How long do you have to pay out of the chequing to be elgible for the $1500; can you change it after a month? year? 5 years?
Chequing account fees waived if mortgage > $150k. Did not ask re: how long you had to keep the payments coming out of the HSBC account - given that fee is waived with > $150k mortgage, it didn't matter to me.
Deal Addict
User avatar
Dec 22, 2014
2173 posts
1561 upvotes
Mordor
TwistedKestrel wrote:
Jul 14th, 2017 12:21 pm
What's the catch? This actually looks like a good deal on a mortgage
minimum HSBC account required with $1,000,000

i kid i kid....
actually a pretty deal with HSBC
Moderator
User avatar
Jul 5, 2004
22791 posts
2541 upvotes
Interesting. I've got a 5 year fixed rate of 2.39 with First National. Time to look into what the penalty would be
Toronto Maple Leafs tickets for sale. PM me for details

Top