Unfortunately, when it comes to this kind of thing there is no set standard, no guidelines for what they consider to be 'exception grantable'. Your guess is as good as ours. We've seen people get the exception who we didn't think would get it, and people with high-net worth, several mortgages with Scotia, and very large incomes be denied.blueeyes007 wrote: ↑ This is interesting to know. I will keep it in mind. Although, it depends on what they consider as a minimum for qualifying as significant net worth?
I have seen that amount vary considerably, ranging from 250k to 1M+. Really not the same target to reach!
At BMO, I have my daily banking and some ''non negligible'' investment with their discount broker arm. When I approached them for a discounted heloc,
I did not have much of a success. May be, the money with the discount broker arm does not count. Or it may depend on the BMO branch.
It's really impossible to say as it seems to be arbitrarily assessed on a case by case basis.
Again, it's very rare so it's not something to bank on getting with Scotiabank.
Concierge Mortgage Group