For years you’ve been able to apply for a big-bank mortgage on the internet. But you’ve never been able to complete the entire approval—including choosing a good rate—100% online. That changed in 2019. TD and Scotiabank became leaders by launching digital mortgage applications where consumers could process almost the entire mortgage online—by themselves—including choosing a discounted rate. And that rate...
Most big banks now have online mortgage pre-approvals. No news there. But three decades following the invention of the world wide web, big banks still don’t let you get a mortgage: on virtually any smartphone, tablet or computer without ever speaking to a banker with an instant credit check with automated screening of your application data with an industry-leading, fully...
When Scotiabank launched its eHOME Mortgagein March, it promised a faster, easier way to get a big-bank mortgage, with compelling rates to boot. Since then, industry-types have watched and wondered if eHOME would get much traction. It has. “When we built Scotiabank eHOME, we set out to create a unique mortgage experience for our customers, focused on simplicity, security, transparency...
It’s been two and a half years since Ontario’s biggest credit union (Meridian) announced its new digital bank (motusbank), and now it’s here. motusbank brings mortgage shoppers one helluva good offering. For one thing, its process is super easy and fully online. That’s becoming mandatory for time-pressed, smartphone-addicted borrowers. More importantly, by eschewing bricks and mortars, the bank can trim...
When Scotiabank announced its new “digital mortgage” offering called eHOME, we thought to ourselves, “Oh, how grand, another glorified online application from a big bank.” But after digging into this thing a little, we have come away genuinely impressed. Scotiabank’s eHOME app is officially the best online mortgage experience we’ve reviewed to date. The bank took some risks with this...
Hopefully people don’t believe everything they read, especially when they read stories like this: “Instant mortgages are coming soon – what could go wrong?“ We’ve been meaning to comment on this piece of imaginative writing for a few months now, but real news got in the way. The article, originally published in October—from a respected journalist no less—is heavy on...
Few lenders in Canada are adapting better to online mortgage lending than HSBC. Thanks to league-leading rates and strong online marketing, the bank’s mortgage growth continues to outpace big banks. Since we last checked in with HSBC it’s been up to something interesting—something that foreshadows the future of how lenders sell mortgages in this country. The “Mortgage Centre” Mortgage shoppers...
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