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[HSBC] Amazing Mortgage Rate 2.74% Fixed 5 year

  • Last Updated:
  • May 23rd, 2019 4:22 pm
Newbie
May 8, 2013
27 posts
2 upvotes
timonwong wrote:
May 14th, 2019 9:29 am
is this only for high ratio?
Its a regular mortgage a bit over 20% down over 25 years.
Deal Addict
Feb 3, 2009
2168 posts
1173 upvotes
nickch wrote:
May 14th, 2019 2:47 pm
Its a regular mortgage a bit over 20% down over 25 years.
i live at yonge and finch, any chance you can PM me the contact at that branch?
Deal Addict
Nov 19, 2010
1928 posts
595 upvotes
burlington, on
K2` wrote:
May 13th, 2019 6:05 pm
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?
I'm not sure what they are talking about.it is clearly in their ad that renewal are included in this offer.i think the minimum to be eligible for this offer is 200000 dollars mortgage.maybe your balance is less than that?
Newbie
Feb 13, 2017
42 posts
6 upvotes
Scarborough
HSBC said that they don't do bridge financing for the purchase of a new home because my current mortgage for my current home is not with them, does that make sense?

I planned to get a new mortgage with HSBC for a new home purchase that would close a few days before closing on my current home.
Newbie
Jan 10, 2017
50 posts
15 upvotes
Calgon1 wrote:
May 3rd, 2019 10:35 pm
Does anyone in Calgary have a competent contact at HSBC? I have dealt with them before and wouldn't wish it on my worst enemy.
I'm a current customer.. My Rep in Calgary has been very helpful.. I can give you the contact. pm me.
Sr. Member
Sep 14, 2007
810 posts
230 upvotes
nickch wrote:
May 14th, 2019 9:24 am
Td was able to match the HSBC deal at 2.87% over 5 years, I bank at the branch at yonge and finch
Do you need to go to HSBC to get pre-approved for the rate then take it to TD to match? Or just tell TD HSBC is offering 2.74%?
Newbie
May 8, 2013
27 posts
2 upvotes
stryder1587 wrote:
May 15th, 2019 10:59 am
Do you need to go to HSBC to get pre-approved for the rate then take it to TD to match? Or just tell TD HSBC is offering 2.74%?
No i didnt go to HSBC, just sent my advisor an email with the link from HSBC
Member
Jan 14, 2017
318 posts
173 upvotes
kobe3k wrote:
May 14th, 2019 2:25 pm
Got 2.96 fixed for 5 year with 30 years amortization from Td
That’s a good rate. I am with TD and I have variable at 3.35% right now. My term isn’t up until next year in the summer so I don’t know if I would change it now (because I think there is penalty?). Does anyone know how this would work?
Newbie
Feb 28, 2018
31 posts
16 upvotes
I got a rate at TD for 2.95% for 5-year fixed at Mississauga, ON location. Thats the best they could do. I will mostly go with that.
I am currently with RBC and my mortgage is up for Renewal in 10 days. RBC not matching that rate.

PS: Just found out, if switching mortgage to another bank, RBC will charge a whopping $375 as a discharge fee. (What a gimmick!)
Jr. Member
Nov 18, 2011
106 posts
27 upvotes
EDMONTON
nickch wrote:
May 15th, 2019 1:46 pm
No i didnt go to HSBC, just sent my advisor an email with the link from HSBC
Which TD did you go to?
Newbie
May 6, 2019
24 posts
7 upvotes
ChanelJ12 wrote:
May 15th, 2019 1:50 pm
That’s a good rate. I am with TD and I have variable at 3.35% right now. My term isn’t up until next year in the summer so I don’t know if I would change it now (because I think there is penalty?). Does anyone know how this would work?
Yes, there would be a penalty. (If your mortgage isn't up for maturity and you switch to another lender, then there will be a penalty).
You should calculate it to see if it's worth it to leave now or wait until maturity.
Take your remaining principal and compare what you would save from a 3.35% variable to a 2.74/2.84%, then minus the penalty at TD = your savings.
Newbie
Oct 22, 2013
46 posts
7 upvotes
Etobicoke, ON
HSBC is offering 2.84 fixed/variable interest rates. As the variable interest rate is higher and fixed in lower . Is this recommended to take variable or fixed ?
We can always change from variable to fixed other way is not possible.But when we the time comes to make a change from variable to fixed, HSBC might not offer rate of 2.84 for the customer who is changing from variable to fixed. Is this correct ?
Deal Fanatic
User avatar
Oct 24, 2004
6361 posts
1173 upvotes
Toronto (Central)
Anyone with MCAP able to get this rate?

Upon my renewal (end of the month) they are offering me 2.95% for 5-year variable but my mortgage is only about 120K so I don't have too much bargaining room with the rate. I also only have one more bank rate announcement (end of May) to work with before renewal.
Newbie
Apr 26, 2018
24 posts
2 upvotes
My mortgage with Equitable bank is 60 months closed with a 4.95% annual interest as of Dec 2018.
The HSBC is a better option? I'm not quite knowledgeable in this, and what do I need to do to switch over to HSBC?

My maturity date is next year in 2020...
I have over 200k but under 250k left to pay. And I recently bought the house in 2016.

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