▲ 1 r/Mortgages
The bank I did my mortgage with got bought and now the new bank has opted to not refinance with me. (Vancouver, Canada)
I purchased my apartment in a co-op building 5 years ago, and had difficulty finding a lander due to most banks not lending for co-ops. I was able to get a loan with Canadian western bank, which got purchased by national bank last year.
National bank contacted me and informed me that due to their internal policy of not lending to co-ops, they would not allow me to refinance my existing mortgage with them.
I've looked for other Canadian banks and credit unions who could lend to co-ops and have had little success. I'm assuming in the event I cant find anything my next move is to work with a broker to find an alternative lender?
u/CultistLemming — 3 days ago