As long as one is comfortable getting in bed with HSBC.miningminer wrote: ↑ hard to beat HSBC, I just funded a mortgage with them 2 weeks ago @ 0.99% with $1200 cashback.
What's more, HSBC didn't work out in my case; they don't do bridge financing (unless you already have a mortgage with them), so I would have needed to close on the sale of my house either the day of, or before. Pretty limiting, and ended up just going to another lender - despite it being more expensive.boyoflondon wrote: ↑ As long as one is comfortable getting in bed with HSBC.
Isn't this strictly worse than HSBC? You pay more legal fees for a monoline lender and HSBC allows the mortgage to be open after 3 years.boyoflondon wrote: ↑ As long as one is comfortable getting in bed with HSBC.
Couldn't care less. Heard that from a lot of other lenders who couldn't compete when shopping for mortgages. More money in my pocket every month.boyoflondon wrote: ↑ As long as one is comfortable getting in bed with HSBC.
the only issue i've experienced with HSBC is lack of branches nearby and a bit of a tedious process to apply for the mortgage since their brokers are so swamped with applications. To get questions answered be prepared to wait a few days sometimes. However one huge advantage of HSBC 0.99 rate is that it is penalty free to pay off after 3 years effectively becoming an open mortgage with closed mortgage rates. No other bank can compete with this, I'm not even sure how HSBC does it because it seems to imply they cannot securitize the mortgage and must hold it on their books for the term. No brainer to borrow money at negative real rates, I wish I could have borrowed more. No HELOC on a high ratio mortgage, but your penalty to break the mortgage is 3 months interest in the first 3 years, and $0 from 3-5 years. We bought a new home so we opted to have the builder include as much as possible into the price like appliances so we're getting it all for a 1% loan. Other great thing is when you open the free bank account with them to fund the mortgage, you can get $200 bonus for leaving $5k in the account for 90d, and another $200 for setting up 2 debits & bill payments and payroll dd.pentexplorer wrote: ↑ So what's the main issues between going with this unknown mortgage lender like Canwise or not greatly revered like HSBC compared to getting one with your bank like TD, RBC etc? Other than the obvious lower rate difference (which obviously puts a lot of money back in our hands), is there like options maybe you can do a possible HELOC with Canwise or HSBC? or selling is gonna be an issue during that 5 year period?
