What does "Haven" mean in the thread title?!
Thanks - never heard of it before (obviously)!Haven is the brokerage arm of EBS!
Hi guys,
Has anyone gotten a mortgage for the Affordable Housing Initiative from EBS? They are trying to tie me to 5 years fixed rate which isn't really a good thing. The way interest rates are going at the moment, 5 years is way too long to fix a mortgage rate for anyone.
Has anyone else come across this with EBS? Have you manged to get them to take that clause out?
Thanks for the replies. I'm going through a broker and he highlighted that it wasn't really a good thing so I was wondering if it was a branch by branch thing or something that applied to any Haven mortgage.
This used to be the case, but there was a change in the regulations in recent months that now means that all mortgage applications are stress tested regardless of whether they are fixed or variable.As i said they do not stress test on a 5 year fixed.
This used to be the case, but there was a change in the regulations in recent months that now means that all mortgage applications are stress tested regardless of whether they are fixed or variable.
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