Street Capital Fixed Mortgage Consumer Reviews

Terrible customer service both initially (application and approval process was lengthy, tens of phone calls to employers for verification and re-verification) and at the time when we wanted to port the mortgage to a more expensive property (long list of costs involving inspections and evaluations, massive and unjustified increase in interest rate, extremely slow communication, not replying to email and phone messages for days). We decided to pay the penalty (steep sacrifice) and went with a better-known lender - totally smooth process. I would never recommend this lender for mortgages.

Don’t get a variable mortgage with them, they will keep interest rate high even if the overall rates are low. If you will choose to switch then there is plenty of 4500. Very tricky lender.

My mortgage rate was increased by 1.7% for my renewal, after many email exchanges with different levels of authority, no resolution was reached. At first they explained that the bank of Canada has increased the rates and after I advised them that I was a real estate agent and was well aware that the rates were not increased by that much, they came up with another explanation that its normal rate that is being offered by all the other lenders. I advised them that I am an investor and have other properties that I have mortgage from different lenders with and none of them increased my rates at all, than they explained that 1% of the increase was for a lender fee. They are nothing but a bunch of thieves and praying upon ordinary individuals and families trying to survive and make a decent living and provide for their dependants.

Absolutely horrible lender I suggest you stay well clear of this mortgage provider. We had a mortgage with this lender a 5-year variable rate mortgage that we were aware of interest penalties if we closed the mortgage out sooner than 5 years. In year 2 we went to Street Capital to say we would like to take a larger mortgage on a more expensive home. We were informed they would have to charge us the penalty to close the current mortgage which would be over $5,000 of interest penalties but then would be happy to provide us with a new mortgage that would be an extra $300,000 more than our previous mortgage. All big Banks we spoke with said they would never charge a customer a penalty when increasing the mortgage amount we qualified for no matter what types of mortgage, conventional, non-conventional or line of credit they were. Therefore, we have gone with one of the big banks for the new mortgage and have had to swallow the $5,000 penalty with Street Capital. I guess they were more interested in their $5000 fee then the $150,000+ interest they would have collected over the next 5 years. Very disrespectful and non-reputable business practice provided by this lending company.