Scotiabank Fixed Mortgage Consumer Reviews

We were referred to our mortgage “specialist” when purchasing our first home. As referrals are often a trustworthy source we decided to go ahead. I had been in contact with a few other representatives at local banks, getting rates, information, etc prior to getting in touch with our representative. Thank goodness I had! These representatives were helpful, quick to respond, and happy to answer my questions, knowing I was a first-time buyer. Upon meeting our representative, she was far from helpful. She was not accommodating and unorganized. She asked for documents 2-3 times after they had already been provided and “lost” them in her inbox. Luckily I had spoken to the specialist of another bank and was semi-aware of what was needed and the next steps as we got closer to closing. Nothing was explained. She made assumptions on whether we’d prefer fixed vs. variable, biweekly vs. monthly, provided 0 updates. Any questions we asked were redirected to someone else, “ask your realtor”, “call the City” and responded to after a minimum of 2 attempts, 3-4 weeks after the initial email. Now that the sale has closed, good luck getting anything out of her! She collected her commission and washed her hands clean of us! Again, I have worked with their insurance products in the past and have had great customer service. Any questions, even if not answered that day, were looked into, responded to in a reasonable time, and addressed. Oftentimes, answers to my questions can easily be found on Google or through discussing with others but in the case, I cannot find an answer, I’ll reach out to one of these specialists to help (that’s their job, right?). She is far from a professional nor a specialist! If you need a mortgage, the biggest loan you’ll take out in your life, avoid them!

Our broker got us the best rate at the time, so we signed on. Then the phone calls and letters started. We were told that it was mandatory to come in and have a "meeting" with a mortgage specialist after the fact. This turned out to be a bogus claim meant to get us in and try to sell us other services that we did not request or need. They did not stop harassing us until a medical emergency arose that made it impossible for my wife and I to meet their demands. Then the representative suddenly told me that her "supervisor" had allowed her to waive the required meeting. From that time till now we are constantly harassed by 1-800 calls from them trying to sell us unsolicited products services. This is our first and last dealing with Scotia Bank. MCAP was an amazing lending experience, and never bothered us or hindered our switch to Scotia when we renewed. We will be going back to MCAP at the end of our 5-year mortgage term.

Customer service is more often bad than not. The amounts are often wrong on my statements. We have a prepayment amount that does not get updated every year, so then we are not able to make all the prepayments.

They are very difficult to deal with. We will be moving our mortgage when it comes up for renewal. We prefer our credit union.

I have found Scotiabank to have poor customer service. They explain conditions poorly and they are not be very appreciative of customer loyalty.

Lazy customer service, information delays, poor information. Decent access to online banking and mortgage information. Convenient location and easily accessible when required.