HawthorneVillager.com

We recently purchased a second-home in Milton that closed last week. We did the rounds of visiting TD, Scotia, RBC etc in looking for the best possible 5 year fixed mortgage from a local bank.

At the end, RBC seemed to get close to the best rate at 3.75, Scotia actually was at 3.74 but with most of our business already at RBC it was just easier to stay with them. We went into the bank the week before last to do all the final signing.

The day after closing I received a call from our rep (Vidya) at RBC. She wanted to make sure everything went smoothly, and then told me that btw the same day that our mortgage closed RBC just lowered some of their internal mortgage rates. In my mind I thought oh-crap, why are you telling me this? Are you saying I just missed out on an even lower rate? She then said she was able to lower our rate to 3.51 on the day of closing based on RBC's newer lower rate limits.

That was a real nice surprise to hear from her the day after we closed. That she was actually looking out for us and was able to make that change just moments before closing. I think we just got lucky both on the timing of things and that she saw the rate change and got it quickly applied to us.

I wanted to say Thanks to Vidya at Royal Bank for helping us with everything.

p.s. the other local banks were also very pro-active and courteous on trying to win our business. Basically in Milton I haven't had a negative bank-experience yet with either Scotia, TD or RBC (the 3 banks we currently deal with). We don't have any business with CIBC, but with all the community stuff that Len Almeida's been driving with CIBC in Milton, it's not due to a lack of goodwill or service expectations.

Hi Rick:

Do you have a contact # for her? We were dealing with Kimberly and she was having a hard time obtaining that kind of rate.

Thanks
Evelyn

I'll send you a PM with her phone number. She works in the RBC on Steeles by the Walmart.

We do have other business with Royal Bank, and we did put a healthy percentage down. We were also upfront about shopping around to look for the best rate, and expressed as long as RBC could meet or match best rates elsewhere that we found, then they might win our mortgage. So those may have been factors in helping negotiate the best rate possible.

When you were talking to Kimberly, was that this or last week? Because RBC did lower their rates just last week.