Quote:
Originally Posted by photon
Just got docs to renew a mortgage, and the existing mortgage is at prime - 0.8%. The options they list as choices are all worse than that (5 year variable 3%, 5 year open variable 3.8%, 5 year fixed closed 5.29%), do I have to accept one of their choices? Or can I "do nothing" and renew at the current terms?
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My understanding is your free, you can now go to any bank. If they are giving you terrible deals, move on.
Also, if they still over a similar prime -0.8% on their website, and they didn't offer it in your mail, phone them and rant! I hate it when banks do this, there going after suckers and it is not fair.