National Bank Fixed Mortgage Consumer Reviews

I had asked for a mortgage deferral of two months during COVID-19. Something they advertised and it was really easy to do. My mortgage payments had always been automatic and I am the last person to not pay her bills. Two weeks after I applied for the deferral I noticed that the payments had stopped and I thought, that worked great. Oh well, still in the middle of COVID-19, a few weeks later, I receive a call from their collection department asking me why I stopped making payments. Needless to say, I was shocked and not pleased and asked her to look into it. There was no apology at all, just, oh well, we haven't processed the deferral yet!!! So why did they stop my payments? I was livid that I was receiving the call after the banks were all advertising how much they care about their customers. The only excuse she told me, is that she doesn't have access to other account information as if that's my fault. Sorry, but I can only give National Bank the worst rating for Customer Service after this experience.

We've had a mortgage with them for five years, and they never, ever send us our annual mortgage statement (which I believe they are legally required to do). So every year I have to phone them, sit on hold forever, answer many questions, listen to their lies that they already mailed it and their promises it will be mailed next year. They say we must have moved house and not updated our address (we haven't moved), then say it was sent to the other name on the mortgage (my husband who, unsurprisingly, did not get it either). It never changes. I should have paid a little more so I don't have to go through this every year. If you live in Western Canada, be aware that they are open Ontario/Quebec business hours on Mon-Fri only. So you either have to wake up early to call (and sit on hold) or take a chunk of time out of your workday.

Having difficulty removing a person from the mortgage. I wish the process was easier and I wasn't fully informed from the beginning that the process was harder then inexpected

The person who set up the mortgage, was not customer-oriented and did not want to listen to me. The consequences of her actions is that I will be leaving National in the spring of next year.

I'm unhappy that we can only switch the terms of our mortgage once a year without penalty. I am locked into a ten year mortgage paying more than a percentage point than average fluctuating interest rates.

Do not have a mortage now - it is paid off. But National Bank was hard to deal with. I paid it off before time and NB took 8 months to clear title.