banking impact on new mortgage

It depends how large your mortgage is. Over $1M or under? If over $1M, most banks will usually auto qualify/introduce you to their private banking team. PB accounts with BMO are free and you do get a discount on mortgage, along with other credit facilities / waived fees. Shopping around for mortgages yourself will result in multiple credit hits though.

If under and you're going through a mortgage broker, then it doesn't really matter. You'll only take 1 credit hit for the application across multiple lenders.

If you're willing to do any sort of rate shopping whatsoever, then I'd bet that there's a 0% chance BMO be the best whether you have your premium chequing account still open with them or not. In which case I'd close the account and move on.

why would you go with a bank when you see 1.49% advertised in the paper? Personally I had great service with BMO at the branch I goto but their credit cards are meh and so were the investments they push. personally just went with whom ever got me the best deals so have the below

banking: Scotia w/momentum credit card (waived annual fee)
credit card(s): amex cobolt, triangle, brim
investments: self at questrade
mortgage: CMLS had lowest rate at the time (other lenders did as well)
savings account: CTFS @ 1.55%

I guess what I'm trying to say is bundling doesn't work in your favour most of the time.

Do have a friend that got a better deal for a BMO mortgage via the investment arm of BMO. Sorry don't have all the details but I do think it is available to all.

No, I don't have anyone that happened to get a really good rate from BMO. But I thought I check with you guys.

Thanks for all the comments. I'm planning to close the accounts with BMO.

I have chequing savings PLOC two CCs with them and they wouldn't beat CIBCs 1.80% 5 years closed, Scotia beat them as well lol, nevertheless they haven't gave me any issues and because I have so many credit products with them might as well stay with them lol