CONFIRMED:
National Bank is having a 3rd party process their mortgages starting in the New Year. They will essentially be funding mortgages under the existing brand "Merix".
What does this mean?
- The All in One account will be discontinued. If anyone is looking to take advantage of this product, applications will need to be in before Friday, December 9th. All conditions need to be met by December 16th, and it will need to fund by January 20th, 2017.
- If you are an Engineer or a Medical Professional, this will be your last chance to take advantage of the HELOC/AIO at preferred rates that you cannot find anywhere else. (Ask for details)
- Note: Manulife still offers a product mirroring the AIO, but no Medical Professionals/Engineer's program.
- Merix will be able to expand their uninsured products now that they're backed by National Bank.
- Equity/Net worth program will also be discontinued. (This product allows individuals to qualify with very little income based on their net worth).
Please PM or reply with any questions or inquiries.
Greg
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