What is the Most Efficient Method of Borrowing? - Page 2
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Thread: What is the Most Efficient Method of Borrowing?

  1. #11
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    Yes, Investors Group, IGM. Haven't come across them before... What's the backstory?


  2. #12
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    Quote Originally Posted by Dilbert View Post
    Don't recall why, but TD waived the legal and the cost of the home valuation....it didn't cost anything!
    generally banks can forgo the need for an appraisal and can loan you up to 80% of equity based on MPAC.

    op, heloc is probably your best bet for a low rate. basically anything my parents want to finance immediately they just use that and its pretty cheap (mom works at the bank so basically the rate is 1.95%)

  3. #13
    Senior Member GreatLaker's Avatar
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    Quote Originally Posted by mordko View Post
    Yes, Investors Group, IGM. Haven't come across them before... What's the backstory?
    I am not familiar with the account you mentioned but as a financial firm and mutual fund provider they were very predatory... selling their own funds with high MERs, both front and back end loads on some funds, a strong presence in small towns with a "trust us we'll take care of you" strategy that is the opposite of the DIY, self-directed, low-cost approach. They are slowly adapting to the times, but the fact that they finally discontinued their deferred sales charge funds this year says a lot about their approach to fees.

    http://www.theglobeandmail.com/globe...rticle4248318/
    https://www.investorsgroup.com/en/me...e-discontinued
    Eschew obfuscation. Espouse elucidation

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  5. #14
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    Wow. Thanks GL - interesting little article in the Globe.

    All I want is a HELOC but they did insist on me meeting their "financial advisor" for 1.5h to get "an independent view of my financial affairs". Told them wasn't interested but the agent insisted. I think she is travelling from Windsor (!), so that will be a nice 8-hour return trip for her.

  6. #15
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    I have a HELOC at prime+0% with TD, fit my needs.
    My portfolio: VCN, VUN, VIU, VEE, HBB, ZRE

  7. #16
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    ^ presumably its old (?)

  8. #17
    Senior Member Beaver101's Avatar
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    Quote Originally Posted by mordko View Post
    Wow. Thanks GL - interesting little article in the Globe.

    All I want is a HELOC but they did insist on me meeting their "financial advisor" for 1.5h to get "an independent view of my financial affairs". Told them wasn't interested but the agent insisted. I think she is travelling from Windsor (!), so that will be a nice 8-hour return trip for her.
    ... I would be interested in hearing how you will keep the leech at bay from doing a free-no-obligation "complete" financial review - keep us posted.

    PS: Don't worry about the 8 hour return trip - she probably hasn't been out of Windsor for awhile or that she needs to visit someone in your town, maybe a wedding?
    Everyone should be respected as an individual, but no one idolized.-A. Einstein

  9. #18
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    Will do - could be fun. Last time it was an RBC advsor/er. In the end she got really cheesed off with me and said that not only will I be losing out on the most amazing mutual fund manager, who is guaranteed to beat the market, but also on her own valuable financial advice. Of course, she wasn't advising on anything; just pushing her own overpriced products.

  10. #19
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    Mordko, you are correct in your assumptions and I misunderstood your comment on"solar panels" and assumed that your were considering an investment, installation, or something close to maybe 150,000. and perhaps somewhat locked in. It was unclear that you had access to other monies to pay out the line of credit if rates went up.

  11. #20
    Senior Member My Own Advisor's Avatar
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    Quote Originally Posted by mordko View Post
    Wow. Thanks GL - interesting little article in the Globe.

    All I want is a HELOC but they did insist on me meeting their "financial advisor" for 1.5h to get "an independent view of my financial affairs". Told them wasn't interested but the agent insisted. I think she is travelling from Windsor (!), so that will be a nice 8-hour return trip for her.
    She will be schooled by you! I guess just play the game so you can get your money. I'll be interested in what they say after they discuss your "financial affairs". She might be like..."damn...maybe I should be taking advice from you?"...

    You can just smile back

    Hidden Content - Working on a $1 million portfolio and $30k per year from it.

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