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