Quote:
Originally Posted by Slava
Interesting. What if I already have insurance? Is that still OK to make my buying insurance a condition of getting the best rate?
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There's so many grey areas, I don't there is a definitive answer to that. In my experience it came down to the banker. If they felt that you had long term potential, or even just liked dealing with you there are steps they can take to get whatever rate to be competitive. They just need to have an argument as to why that individual is entitled to that rate.
For example, if a customer that has no dealings with my bank comes in looking to switch their mortgage, and is asking for a rate that ATB is currently offering I would look at their networth, income, credit rating, long term goals and determine if they're worth fighting for.
I always started with the special rates and determined quickly how prepared the client was, if they knew the markets and whatnot.