Expired Hot Deals

[HSBC] Amazing Mortgage Rate 2.74% Fixed 5 year

  • Last Updated:
  • Nov 4th, 2019 8:29 pm
Deal Addict
User avatar
Jan 24, 2007
2737 posts
416 upvotes
North York
board123 wrote: Every pre-construction condo requires pre-approval. It has zero impact on your actual mortgage down the road.
NO, not every condo requires pre-approval. Some of the larger builders don't. PM me if you need examples.
Deal Addict
User avatar
Jan 24, 2007
2737 posts
416 upvotes
North York
roofgoof wrote: What would you recommend in my situation?

Insured High Ratio Mortgage
Mortgage Balance: $522,018.32
Term: 5 years Variable
Remaining Term: 3 years, 3 months
Remaining Amortization: 20 years, 8 months
Interest Rate: 3.25% (Prime -0.70)
Check out the penalties and discharge fees. If exorbitant, stay! The interest rates seem to be softening so no harm in staying with the current lender. However if you can switch to 2.75 or 2.99 % - - it could be worth considering.
Newbie
Oct 22, 2013
69 posts
13 upvotes
Etobicoke, ON
Is it better to take a variable or fixed with HSBC as both are same .

Other then the appraisal fees , should a buyer also pay for legal fees to bank or legal fees to my lawyer .

What are the other expenses that HSBC charge that big banks don’t
Member
Nov 18, 2011
232 posts
60 upvotes
EDMONTON
Can anyone provide some kind of proof that they got this rate . Im looking to get a mortgage from TD bank in Edmonton so when I bring up this rate they wouldn't they im making this up.
Deal Fanatic
Dec 16, 2005
5265 posts
3280 upvotes
cwangs wrote: Can anyone provide some kind of proof that they got this rate . Im looking to get a mortgage from TD bank in Edmonton so when I bring up this rate they wouldn't they im making this up.
They won't take you seriously until you start the process of getting the rate. Someone else's proof won't help you.
Member
Oct 15, 2013
232 posts
120 upvotes
Quebec, Qc
Got BMO to renew at 2,84% 5yr fixed.
Sr. Member
Feb 27, 2009
788 posts
435 upvotes
What’s the best rate anyone has gotten at scotia with their step program ?
Sr. Member
Oct 28, 2006
595 posts
292 upvotes
Alberta
cwangs wrote: Can anyone provide some kind of proof that they got this rate . Im looking to get a mortgage from TD bank in Edmonton so when I bring up this rate they wouldn't they im making this up.
Go to hsbc in downtown, get the process started. In couple days the rep will email you the summary with the rate. You can take that proof to td. However beware all TD mortgages are collateral now. Make sure you read up on collateral vs standard mortgage. In short collateral will tie you to TD even when time comes for renewal and if you try to go to another lender you will have difficult time plus you will need to go lawyer to remove the TD collateral and register new mortgage so around $1500 lawyer fee plus time. TD won't give you a good renewal rate as they know the headache involved to switch lenders
Deal Fanatic
Dec 16, 2005
5265 posts
3280 upvotes
shinku wrote: Go to hsbc in downtown, get the process started. In couple days the rep will email you the summary with the rate. You can take that proof to td.
Lol. For me it was a bit more than a couple days.
Took me 3 weeks and 2 days.
Jr. Member
May 31, 2012
122 posts
40 upvotes
milolai wrote: i have never worked with such a dumb useless organization.
i am lucky that i actually am just refinancing so i have all the time in the world to do this -- but i cant imagine using them for anything requiring any type of time frame which matters.

i would not trust them to make me a sandwich let alone put a closing of a property in their hands.
They are the slowest most incompetent bank I have ever had the displeasure to work with. They've literally cost me money because the right hand never knows what the left is doing. And I'm a premier account too, I thought there'd be perks instead of stress headaches. I'm in the market but the idea of being tied down to these clowns makes me want to drink...and I'm 5 years sober.
Member
Aug 10, 2003
364 posts
98 upvotes
for a renewal I was told I was not eligible for the 2.84/2.74 rates. It is only for new customers. The rate I would get is 2.94% - Anybody else get the same reasoning?

With that said, is 2.94% still one of the lowest rates around?
Member
Jun 25, 2007
248 posts
63 upvotes
Scarborough
jame11 wrote: Try to find someone who banks with HSBC and you will also be eligible for their referral offer too to help offset some mortgage transfer fees. I know I did this when I got my mortgage and was able to get another $350, on top of the $1000 for the mortgage.

https://www.hsbc.ca/share-the-experience/
I didn't know this offer when I have a mortgage with HSBC a year ago, would have save some money there, but here I am hope I can get to enjoy the offer this time.
Newbie
May 8, 2013
51 posts
18 upvotes
nickch wrote: Up for renewal with TD, straight up was offered 3.02% 5 year fixed. Currently trying to get them to match the HSBC deal
Td was able to match the HSBC deal at 2.87% over 5 years, I bank at the branch at yonge and finch
Deal Addict
Feb 3, 2009
2506 posts
1542 upvotes
Durham
nickch wrote: Td was able to match the HSBC deal at 2.87% over 5 years, I bank at the branch at yonge and finch
is this only for high ratio?
Newbie
Mar 24, 2006
14 posts
1 upvote
Toronto
Got 2.96 fixed for 5 year with 30 years amortization from Td

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