Tom from Kenora, Ontario
I wasn't planning on shopping around. We'd been with RBC for some time and were planning to stay.
We are buying an expensive property and needed a mortgage and LOC to build until we sell our current house. The local RBC mortgage agent dropped the ball on appraisals etc. I was annoyed so I shopped around.
I found that shopping around got us the best rate. Institutions are more inclined to cover appraisal and legal costs, and that different institutions have different repayment options (i.e. lump sum amounts). I also got different opinions on the best type of mortgage for our situation.