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The Mortgage Radar

Blog by Tridac Mortgage | October 26th, 2010

News, views, and opinions from the world of mortgage financing. This update covers TD's new collateral charge, investment properties, mortgage qualification for self employed, targeting new immigrants to Canada, and the tax deductible mortgage. 

The TD bank announced a major change to the way they register their mortgages, changing them from a “standard charge” to a “collateral loan”. The end result is that borrowers will be handcuffed to TD. Ultimately this is a strategy to prevent borrowers from leaving TD at maturity. They are selling it to borrowers by allowing them to register up to 125% of the current market value of their home....more