Bank Calculators For Your Edmonton Mortgage Penalties
Friday, October 10th, 2014This article was inspired by the recent piece of CBC News, “ GO PUBLIC | TD Bank client ‘devastated’ by $17,000 mortgage penalty”. I’ve seen from my Facebook feed comments stating that this was a serious problem and that there are many individuals that have been victims of huge mortgage penalties. It’s a horrible thing to happen to anyone who would like to terminate their mortgage contract with their banks.
There’s nothing much that anyone could really do about it. There’s currently no law that regulates the standardization of mortgage penalties. If you’re thinking of paying off your mortgage early, we at Team Leading Edge have compiled a list of the major banks’ penalty calculators. We all know this isn’t the most accurate tool as there are other factors that would affect the overall result but this is just as helpful in estimating the range of the penalty that you would actually pay.
- TD Bank:
- Manulife Bank:
- HSBC:
- Tangerine (former ING Direct):
- Scotiabank:
- CIBC:
- RBC Royal Bank:
- Bank of Montreal:
- Laurentian Bank:
- National Bank of Canada:
