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[Meridian Credit Union] Meridian 1.98% Mortgage Rate - 2 Year Fixed [ONTARIO]

Deal Fanatic
May 1, 2012
8041 posts
5145 upvotes
Markham
BrethrenJx wrote:
Mar 14th, 2019 4:05 pm
Please let me know if anyone finds out regarding if they will pay for termination fee.
I have 1 year 5 months left on my mortgage.
Thanks.
They don't. You can stop asking now.
Deal Addict
Apr 12, 2007
1582 posts
474 upvotes
Ottawa
Any info on rate hold period? My renewal is not until August 1st but I want! =D
Sr. Member
Apr 4, 2017
746 posts
103 upvotes
Toronto
i'm with CIBC - is there any penalty for doing switch over?
Sr. Member
Jul 2, 2007
525 posts
69 upvotes
Canada
fruzmatik wrote:
Mar 14th, 2019 4:23 pm
Any info on rate hold period? My renewal is not until August 1st but I want! =D
"Complete a simple profile and we will hold any of our advertised rates for you for 90 days. No questions asked and no further commitment "
Deal Addict
Apr 12, 2007
1582 posts
474 upvotes
Ottawa
speedway84 wrote:
Mar 14th, 2019 5:56 pm
"Complete a simple profile and we will hold any of our advertised rates for you for 90 days. No questions asked and no further commitment "
Damn. What are the odds this deal lasts for another 45 days....
My penalty is like $1000.
Newbie
Mar 7, 2011
10 posts
3 upvotes
Mississauga
def47 wrote: CRAZY GOOD RATE!
Let's hope it comes to QC.

Btw, I'm selling my condo in exactly 2 years.
if I choose a collateral mortgage do I have additional fees to pay compared to a normal mortgage.. at the end of that 2 year??
Financial advisor here. Cost to discharge a conventional charge vs a collateral charge is almost the same. Between 300 to 400 depending on institution. Charge type issues are a media frenzy there isn't a difference for most people. Collateral ie actually better for you as it saves you legel fees if you r finance back to the max allowed the the charge. In conclusion, no extra fees when you sell.
Deal Addict
Apr 4, 2006
3574 posts
230 upvotes
fruzmatik wrote:
Mar 14th, 2019 4:23 pm
Any info on rate hold period? My renewal is not until August 1st but I want! =D
Same but sep 1
Newbie
User avatar
Jul 24, 2015
45 posts
26 upvotes
Thunder Bay
> Property must be owner occupied (not applicable to rentals).

Has anybody been able to get flexibility on this point? Would be great for my rental.
Newbie
Mar 17, 2015
70 posts
33 upvotes
Toronto, ON
Up for renewal in April. I wonder what happens after 2 years ?
Sr. Member
User avatar
Aug 12, 2003
945 posts
161 upvotes
Hamilton
fruzmatik wrote:
Mar 14th, 2019 4:23 pm
Any info on rate hold period? My renewal is not until August 1st but I want! =D
If you get pre-approved now they typically hold it for 90 days, so for August your out of luck unless they extend this offer through spring.
Deal Addict
Apr 12, 2007
1582 posts
474 upvotes
Ottawa
traktion wrote:
Mar 14th, 2019 10:48 pm
If you get pre-approved now they typically hold it for 90 days, so for August your out of luck unless they extend this offer through spring.
Yeah I am 48 days out. Hopefully they extend or other banks start to match given the shifting interest rate expectations.
Newbie
Mar 21, 2015
27 posts
4 upvotes
Toronto
CHRoNiCWiLL wrote:
Mar 14th, 2019 2:12 pm
Wonder if I could switch to this if my current mortgage is already with Meridian (or if it is worth it).
Currently at 1 year and 8 months into a 5 year fixed at 3.05%.
were you able to find out? I am on the same boat and would love to get into this if possible.

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