Exclusive: National Bank to reinstate its mortgage portability feature this week - Mortgage Rates & Mortgage Broker News in Canada
Exclusive: National Bank to reinstate its mortgage portability feature this week - Mortgage Rates & Mortgage Broker News in Canada
Abstract
National Bank of Canada made headlines last week after it was revealed it had quietly removed borrowers’ ability to ‘port’ their existing mortgage to a new home. In an exclusive interview with CMT, Tarek Naguib, VP of Retail Financing Solutions, explained what prompted that decision, and also confirmed that the feature will be reinstated by the end of this week. ‘We realized there were some aspects of it that needed to change,’ he said. The decision was made.
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