Lender History:
Scotiabank, officially known as The Bank of Nova Scotia, was established in Halifax, Nova Scotia, in 1832. Initially serving the Maritime provinces, it expanded its operations to other parts of Canada and internationally. Over the years, Scotiabank has grown into one of Canada's largest banks, offering a wide range of financial services to customers worldwide.
Lender Key Strengths
Scotiabank offers a strong refinance program for rental properties, helping investors unlock equity with ease. Their combined HELOC and mortgage options provide clients with flexible financing solutions, while their Net Worth Program caters to high-net-worth individuals. Scotiabank’s flexible qualification standards make them an accessible choice for a range of borrowers, and they’re particularly competitive in uninsured business, giving clients better value on uninsurable mortgage options.
Factors to consider:
Does Scotiabank offer bilingual service? Yes
What to know about penalties at payout? Scotiabank uses post rates as penalties, which can be quite expensive at payout time depending on economic factors and your mortgage rates.
Current market conditions to highlight: Currently qualifying at higher interest rates than industry standard for their HELOCs
Contact Information and Links for Scotiabank:
Head Office Location:
44 King Street West, Toronto, Ontario, Canada, M5H 1H1
