Scotiabank Fixed Mortgage Consumer Reviews

Read before getting a mortgage with them! Our mortgage was up for renewal on our home and we decided to go with Scotia Bank. We had great customer service from day one and were very happy with all the services they provided for us. We just recently sold our home and of course decided to get our new mortgage with Scotia. The rates were good the customer service was good and we wouldn’t get any penalties on porting our mortgage. This all sounded so great until we were told under no circumstances will Scotia Bank provide mortgages on rural properties. By rural, I mean 7minutes outside of a town with two major chain grocery stores, several car dealerships, a hospital, several fast-food restaurants, clothing store and the list goes on. We are now stuck with an $8,000 penalty when they are refusing to provide a service. I understand it’s the bank’s choice to give a mortgage and a lot of factors weigh into this decision however when a bank just won’t touch certain type of properties under no circumstances this should be something they tell their customers before signing papers. In my honest opinion, they just like to make a quick buck off you and couldn’t careless they are putting the customer out!

Scotiabank has lost a customer. We have 3 mortgages with them and not only have they taken 6 weeks to instruct on a HELOC, they sent the wrong instructions. We paid $1600 to our notary, and now when the $ is to be in our accounts, Scotia advises that they sent the wrong instructions. Now we must go back to the notary and pay again, Scotia will not take responsibility. We will be moving all 3 of our mortgages to TD. Cannot stand Scotia bank. They even made us go to an appointment where they try to pitch their products at you, for the 3rd time.