Meridian Offers Ontarians the Lowest Posted Mortgage Rate in Canadian History - THE GLOBE AND MAIL

Apr 10, 2015

Thursday, April 09, 2015

TORONTO, April 9, 2015 /CNW/ - Meridian, Ontario's largest credit union, today announces it is offering an 18-month fixed mortgage at 1.49 per cent -- the lowest known posted mortgage rate in Canadian history.   

"With this mortgage offering, we will be helping Ontarians to pay off their mortgages sooner while saving money in interest costs," said Bill Whyte, Chief Member Services Officer for Meridian.  "This is just another example of Meridian having our Members' backs."

Meridian's mortgage specialists work with Members to educate them about the financial requirements associated with home ownership, while ensuring their mortgage payments fit into their overall financial plan. 

"As a responsible lender, Meridian recognizes there is no cookie-cutter approach to selecting a mortgage solution.  In addition to this 18-month mortgage offering, Meridian offers a full suite of mortgage options including fixed, variable, mortgages for business owners and construction mortgage solutions," added Whyte.   

Not only does Meridian offer competitive mortgage rates, it also provides one of the best repayment options on the market today.  Meridian's 20/20 prepayment program allows Members the option of paying down up to 20 per cent of the original principal balance without penalty each year, either through lump sum payments or increased monthly payments.  These two repayment options can be combined provided they do not exceed 20 per cent of the original principal balance.

Globe Advisor