CIBC Fixed Mortgage Consumer Reviews

My morgate with CIBC was nightmare. The information provided by the customer service was not consistent. It’s not once more than twice. By the end of the day I got punished with higher interest due to their inconsistency and failure to inform their client right information and failure to record information properly. Not all the customer service are bad but overall bad experience. Before I had morgate with another company, good experience. Save your self - stay away.

It was our first experience, and we went to CIBC. Reema K. was our advisor. Gave us the rate, and casually suggested a realtor. The realtor that she suggested contacted us (contact was initiated by the realtor) and we agreed to meet the realtor (oblivious to the potential conflict of interest and because of our naivety). We took it from there, and things start to unfold. The realtor was not happy with us because the realtor wanted a quick transaction to happen and we happened to take our time and searched for many alternative options. In the meantime, the realtor was communicating with Reema without our acknowledgment. Long story short, the time window for the rate was closing, and the push came from both Reema and the realtor. Then, Reema started to be hostile towards us and started to threaten us that if we didn't make an offer way in advance of the closing date she wouldn't process our application. We tried to change her as an advisor, but she stood in the way.

That was when we realized our mistake, to take a realtor that was suggested by Reema and had a close tie with her. Reema knew everything though we didn't inform her.

We parted from the realtor, and we dropped CIBC.

The lesson is don't use a realtor suggested by the mortgage advisor, or for that matter, an inspection team suggested by your realtor... Protect yourself by avoiding conflict of interest. That way, you know that the opinions you are getting are independent of each other.

We cannot wait to transfer our mortgage and close all our accounts with CIBC. We have been clients for many years and our experience has been horrible throughout our entire home buying experience. The representative (Reema) was very unprofessional and lacks in all aspects of her job. And to add to that.. she is so rude, arrogant, and uninviting. She does not communicate and the off-time she does, it is very cold and provides no information or support. Often leaving us confused. We almost lost our home purchase due to her incompetence. And we were penalized hundreds of dollars in penalties. Please avoid at all costs.

I'm very frustrated with CIBC handling their loyal customers like me who has been with CIBC since 1996. Very incompetent staff and unprofessional and greedy management. I'm glad that my mortgage is paid out and I'm in a process of closing my accounts with CIBC. I would NEVER recommend CIBC to anyone.

I am really frustrated with CIBC handling their loyal customers like us who has been with CIBC since day 1 and all their products with CIBC. I have contacted them since last year several advisors including you at CIBC regarding this early renewal (CIBC Eglinton Square, CIBC Mortgages) and sending requested documents from time to time. I am currently at a 3.89% fixed closed interest rate and I wanted to early renewal and I was told a 25% portion of the penalty was waived. After so long, I was declined.
I am really not happy with CIBC treating their already existing clients. I am seriously shopping around now for my mortgages and already I got some offers from some other financial institutions at a lower rate with some cashback offers to cover a portion of my penalty. This is ridiculous wasting my time sending all these to CIBC. You could have just mentioned that CIBC only considers their interests, not their customers and It would never be possible

I found better rates and honest service elsewhere. I was offered 3.5%, got 2.69% elsewhere with little problem.

It is all about the bank and not about the customer regardless of how they position it. Features only benefit the bank. Always hard to get everything set up properly.