# Negotiating with TD or other big bank



## latebuyer (Nov 15, 2015)

Has anyone had luck negotiating with TD? If so, did you find them open to matching a rate on rate hub or only with a big bank. Any other tips? My 100,000 mortgage is hardly lucrative.

If you know of any other bank or credit union that has a good rate listed on their website let me know.

Yes, I know I am better off going elsewhere but with collateral switch fees and rate hike looming I may not have a choice.


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## Spudd (Oct 11, 2011)

We negotiated them to match Tangerine's posted rate, but that was about a decade ago. Still, doesn't hurt to try.


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## spiritwalker2222 (Nov 7, 2017)

TD will match what you can get from a broker. Just started a closed 5 year fixed rate mortgage for 2.54% in December (I locked in before the rates went up).


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## drnetworth (Jan 6, 2018)

I have found these 3 sites good in terms of findings the lowest mortgage rate on the market. Then go back to TD and see if they will match, if you want to keep your mortgage there for convenience. Good luck!

1) Ratespy

2) Intellimortgage

3) Truenorthmortgage


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## latebuyer (Nov 15, 2015)

Thanks for the replies. Is it best to first see what td has to offer or just show them the best rate i've found to start? I'm not sure of the best way to negotiate.


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## 30goodies (Jan 10, 2018)

latebuyer said:


> Thanks for the replies. Is it best to first see what td has to offer or just show them the best rate i've found to start? I'm not sure of the best way to negotiate.


I would go in with the competitive rates and ask TD what they can do to match. 

The advisor probably needs to escalate to the head office for additional discount. You may or may not get it but at least you tried. 

Whatever rates TD offers, they can usually commit it for 15 days. This gives you some time to shop around. 

If there is no further discount, try to haggle them to waive other fees such as the credit card annual fee, account fee, etc.


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## corpowner (Dec 21, 2017)

*TD Negotiates*

After receiving an initial renewal quote from TD for a 5 yr fixed rate of 3.23%, I asked TD if they could match the 2.99% that HSBC is offering. A day later (Friday) they matched that rate. No mes, no fuss, no worries about qualifying under the new rules. Good luck!


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## latebuyer (Nov 15, 2015)

Did you know hsbc raised their 5 year rate to 3.14 friday? You were lucky. The most they would offer me is 3.14 3 years but they wanted it in a heloc. I don't know if i like the idea of a heloc.


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## My Own Advisor (Sep 24, 2012)

I would definitely consider working with a mortgage broker first; in doing so, you are likely to get a better rate than you could negotiate on your own.


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## banjopete (Feb 4, 2014)

We got a stoned faced no, in response to our inquiry of matching a mortgage broker derived rate from TD. We didn't push further or attempt to raise it beyond the person we were chatting with at TD as we were miles apart on the rate and the answers being given were that they simply would not match. So needless to say we happily left TD and two renewals and a new mortgage later have never looked back.


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## balexis (Apr 4, 2009)

I had the same experience as banjopete with regards to RD. The discussion was pretty pathetic:

Here is what RBC is offering me, can you match it? (1.10% lower for 5 years fixed)
No, sorry, but we really want you as a customer, so call us before you sign anything
I am going to sign this afternoon, can you match that rate?
No, sorry we can't go lower than that we already gave you, but we really, really want you as a customer!
....
....


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## 30goodies (Jan 10, 2018)

balexis said:


> I had the same experience as banjopete with regards to RD. The discussion was pretty pathetic:
> 
> Here is what RBC is offering me, can you match it? (1.10% lower for 5 years fixed)
> No, sorry, but we really want you as a customer, so call us before you sign anything
> ...


That's what they are trained to say. They don't really care. 

Banks will continue to make tons of money from there thousands of other mortgages that are renewing.


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## ian (Jun 18, 2016)

Get the admin and appraisal (if applicable) fees waived while you are at it.


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## latebuyer (Nov 15, 2015)

TD offered me 3.14 3 year fixed but it would be in a heloc. I'm not sure i want a heloc. My mortgage is small and brokers don't want to help me


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