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Sunday, 5 February 2017

2.35% Fixed 5 Year Closed

What those Canadian websites that list mortgage rates from the brokerage firms and big banks DON'T want you to see is that in fact, HSBC, since December, has had a 2.35% 5 year fixed closed rate, which for a while, has not required you to be an account holder with them.  It's still available!! They will throw $500 towards your appraisal costs and legal fees to refinance or purchase your first home, but legal fees are around $1K with them, and appraisal costs are around $400, so that leaves you paying around $900--still worth it with such a low finance rate compared to the competition--and you can TRY to go to your bank and tell them about HSBC's posted 2.35% rate--they won't even bother to try to match it.
They WILL give you 1% for transferring in business such as RRSPs of at least $15K, up to a maximum of $1200 ($120K).  RESPs do NOT count towards this particular bonus.  This can help you to subsidize the cost of your legal fees, which other institutions may pay, depending on what you worked out with them.
If you are in the market for a mortgage, just go into your closest HSBC branch and sit down with a rep.  I'd appreciate you mentioning that Steven Kastner, who signed up for an account and mortgage with Shelly Li from the Yonge & Clark branch in Thornhill referred you when you open up an account with them (free, and a place for them to put your transfer-in or any other bonus).
Click the link in the pic above to go to the HSBC website.

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