Mortgage Renewal

crazy_wheeler

Active VIP Member
Joined
Jun 26, 2007
Messages
6,388
Reaction score
12,736
Location
Stony Plain
The wife and I have 6 months till our mortgage is up for renewal and we're starting to shop around for a Mortgage Broker in the Edmonton area. Looking for feedback or recommendations on which Broker's to look into or stay away from. We've had our mortgage with the Royal Bank since 2006 and after some great disappointment with them back in 2012 when we sold our acreage to move to where we are now I would rather not renew with them for a third time. Long story short after the paperwork was all signed the RB charged me early payout penalties which they said they would wave when the mortgage was carried over onto the new property. When we called them out on the penalties their response was "not much we can do about it now". :mad:
 

S.W.A.T.

Active VIP Member
Joined
Apr 13, 2008
Messages
4,501
Reaction score
7,885
Location
Smithers
The wife and I have 6 months till our mortgage is up for renewal and we're starting to shop around for a Mortgage Broker in the Edmonton area. Looking for feedback or recommendations on which Broker's to look into or stay away from. We've had our mortgage with the Royal Bank since 2006 and after some great disappointment with them back in 2012 when we sold our acreage to move to where we are now I would rather not renew with them for a third time. Long story short after the paperwork was all signed the RB charged me early payout penalties which they said they would wave when the mortgage was carried over onto the new property. When we called them out on the penalties their response was "not much we can do about it now". :mad:

Wheeler, pm me and I will give you the gal we use out of Calgary. If penalties are involved she can often find companies that will forgo that for the business.
 

j335

Active VIP Member
Joined
Jan 3, 2007
Messages
1,874
Reaction score
1,821
Location
AB
Doesn't matter where your broker lives, I have never met mine in person and have used him on 3 renewals.
 

Bogger

Bogger of the GBCA
Joined
Feb 21, 2007
Messages
24,426
Reaction score
18,506
Location
Down by the Bay
RBC tried that with us.... apparently there WAS something they could do about it after all.... greasy fawkers.
Also had a realtor conveniently miscalculate fees and "forget" that we had agreed upon a discount.... that got resolved as well.
We are in the process of getting private personal life/disability insurance coverage so we can drop the banks $310/month and get better insured for under $200.

The wife and I have 6 months till our mortgage is up for renewal and we're starting to shop around for a Mortgage Broker in the Edmonton area. Looking for feedback or recommendations on which Broker's to look into or stay away from. We've had our mortgage with the Royal Bank since 2006 and after some great disappointment with them back in 2012 when we sold our acreage to move to where we are now I would rather not renew with them for a third time. Long story short after the paperwork was all signed the RB charged me early payout penalties which they said they would wave when the mortgage was carried over onto the new property. When we called them out on the penalties their response was "not much we can do about it now". :mad:
 

rzrgade

Active VIP Member
Joined
Sep 22, 2008
Messages
7,580
Reaction score
14,760
Location
West of Toronto
RBC is a terrible bank , unless you have about 25mill in there at all times...
They are very hard to deal with ...
I highly recommend Servus credit union as a bank .
Or of course ,a good mortgage broker .



Sent from my iPhone using Tapatalk
 

SwampRatt

Active member
Joined
Mar 9, 2010
Messages
72
Reaction score
98
Location
Near Camrose
The wife and I have 6 months till our mortgage is up for renewal and we're starting to shop around for a Mortgage Broker in the Edmonton area. Looking for feedback or recommendations on which Broker's to look into or stay away from. We've had our mortgage with the Royal Bank since 2006 and after some great disappointment with them back in 2012 when we sold our acreage to move to where we are now I would rather not renew with them for a third time. Long story short after the paperwork was all signed the RB charged me early payout penalties which they said they would wave when the mortgage was carried over onto the new property. When we called them out on the penalties their response was "not much we can do about it now". :mad:

Thats pretty much a carbon copy of our story with rbc, a promise if we resign and then $4100 in early cancellation fees, when this is our 4th mortgage with them. Let me know who ya go with in the end, we're up for renewal in a year and will for sure be hunting for a new broker
 
Top Bottom