RBC Fixed Mortgage Consumer Reviews

After spending 45 minutes with a consultant who could not even do the math correctly I am so convinced this is not the place to bring my mortgage of even half a million let alone a million dollars. The consultant was not able to give straight answers and did not ask what type or length of mortgage we would like. They brushed over an interest rate doubling from what we are currently paying, but they were very confident that they were the best place to switch in a mortgage.
If I could give this place a review it would be one star for their consultant.

The mortgage specialist from RBC Toronto that I have been in contact with by phone and email was rude and unaccommodating. First, the person barely replies. On her website, she promises to reply within 24 hours, whereas in my experience, the earliest she replies is within 4 days and also never. She asked us for our IDs to start creating a profile, but when we sent her IDs, she does not acknowledge receipt. That was not okay, but we just let it be because we previously have both agreed to schedule a phone conversation with her at 11 am on Feb 21. When I messaged her at 10:59 pm about whether the call will be made through video or phone (as she did not give us prior instructions about the meeting), she texted me that I "didn't confirm" and so she'll have to move the call to 11:30 am. I said I'm okay with it. By 11:30 am, my phone rang and the first thing she talked about was how it seemed that I don't have the sense of urgency to get a property (as her clients are usually the one's looking for to buy a property within a few months), and usually, she should already have some "checklist" documents from us. The problem was that she does not reply and she does not give us clear instructions. She didn't give us a checklist that she was saying prior to the call. With her, a person who does not reply, what sense of urgency does she expect from prospective clients? If she wasn't interested in working with us, then she should just say so.

We went with RBC for our mortgage because I always had the impression growing up that they were the "premium" bank had the best reputation in terms of customer service. We're so, so disappointed. We got a good rate but that's about it. The mortgage process has been a string of unanswered emails, rude one-liners, unclear terms, hidden fees that get charged without notice, and representatives who clearly take no pride in their job and do not care about the client. I can't count the number of times that I've called to follow up on something that they didn't address in an email, only to be told that they are "in the car right now" or "haven't opened their laptop yet that day". I work a client-facing job myself and would never dream of talking to a client this way. I can't even imagine how much commission they are making on this mortgage. The whole experience has been very disappointing and I think we'll be looking elsewhere when it comes time to renew. RBC no longer has the shine that it used to.

My new condo will be completed on June 23 but my 5-years fixed-rate mortgage expired June 22. The mortgage manager would not override the original rate so I have to pay more. I will take out all my dominion investment and RRSP close to 1 million dollars and will start with another company!

After looking to renew my mortgage and not getting anywhere with RBC, one simple email and I was already being looked after by a rep of another company. Got a lower rate and will pay off the home 2 years sooner.

I've now waited on hold two different times now with RBC. Both times on hold for over an hour trying to get some of my current RBC mortgage documents. The first document I requested was never sent out (wasted an hour and 30 min + on the phone).

RBC does not follow through with the commitments that their staff make. Multiple follow-ups, 4 weeks later, told that the commitment made was not honoured and that I am on the hook for the bill. Ombudsman has been contacted, but I look to be out of luck due to RBC’s poor customer service, advice and information. The community manager tells you how to manage your money even though their team provides garbage advice and insinuates that you should have known better than to trust multiple RBC representative's advice. Will never do ANY business with RBC ever again as they do not care for the customer and they have no integrity, just looking to get your hard-earned money any way they can. Stay away!!!

RBC has made a labelling mistake on RBC clients mortgages. They have used their computer-generated calculations for bi-weekly payments when clients signed an agreement for Accelerated bi-weekly payments. Unfortunately, most clients did not check their amortization period when taking a new or renewal mortgage. For some, the error had been going on for 10 years and RBC have woken up just 2 months ago and send out a disclosure about their language/labelling and worded it out in such a way that clients have made an error. Advisors keep you on hold for close to 20 minutes while they check the issue of the mortage and then do not give you a satisfactory answer. Totally disappointed in the trust factor with RBC.

We have been quite annoyed with them. Things they told us would work one way ended up working another. They also pester you on the phone constantly