Rates on TD Canada Trust HELOC Changes

Good News!

 

TDDave Vancouver David Hudson

TD Canada Trust has announced that HELOC account changes for the benefit of those with existing TD Canada Trust HELOC accounts who would like to have access to additional equity!

 

For the last few weeks the target HELOC float pricing for the major banking institutions has been set at prime + 1% or 100bps, this has presented a problem for clients who have their float portion priced at prime and wanted to increase the limit. After all why should you be ‘penalized’ for being a loyal customer and wanting to borrow additional funds—the banks should be hungry for your business!

 

 

TD Canada Trust has taken steps to further position itself as the market leader in the Home Equity Line of Credit market. It was announced that all new HELOC accounts for existing customers would be at prime + 0.5% or 50bps (depending on a first or second position) here is a breakdown;

IF –

1st position      

      -          Retain existing HELOC account at current rate, no limit increase

-          Process a new HELOC account in 2nd position at target rate for the required increase amount

-          New registration charge require

            II

-          Close existing HELOC and open a new HELOC in 2^nd position

-          Rate on increased HELOC limit is the greater of the existing rate or Prime + 0.50% and applies to the total (original AND additional) HELOC limit

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Because I treat your money like its mine, when it’s time to save you money or make you money, I am like a ‘Warrior!’ Money is an emotional issue and to represent yourself is like performing surgery on yourself. You would never do that, would you?

 If being healthy is important to you, then you delegate that to a person you trust and respect. Like me, you probably believe it’s in your best interest to have a skilled, experienced and focused negotiator on your team! TDdave