Hi Rob!
We are renewing our mortgage and we're pretty lucky when we scored a prime minus 0.8 five years ago. Now we are renewing the mortgage and are threatening one of the "big banks" to move to a different lender because of the beyond terrible service. They have offered us what they "say" are their rock bottom rates (this is round 2 of negotiation) which are 2yrs fixed at 2.09%, 3yrs fixed at 2.34, 4yrs fixed at 2.49 or five years fixes at 2.64. They have also offered us "financial compensation" to make up for the bad service plus to cover any discrepancy between lower rates that we could get from a broker. We have no idea what to do and what that financial compensation would look like. Can you help?
Malbec443 karma
Hi Rob! We are renewing our mortgage and we're pretty lucky when we scored a prime minus 0.8 five years ago. Now we are renewing the mortgage and are threatening one of the "big banks" to move to a different lender because of the beyond terrible service. They have offered us what they "say" are their rock bottom rates (this is round 2 of negotiation) which are 2yrs fixed at 2.09%, 3yrs fixed at 2.34, 4yrs fixed at 2.49 or five years fixes at 2.64. They have also offered us "financial compensation" to make up for the bad service plus to cover any discrepancy between lower rates that we could get from a broker. We have no idea what to do and what that financial compensation would look like. Can you help?
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