Mortgage Company Reviews

Union Home Mortgage Review – The Truth About HSBC’s 0.99% Mortgage Rate


Union Home Mortgage Review – Review

HSBC has set a new record for the lowest mortgage rate ever offered in Canada’s history. This is huge news in the mortgage world, especially as the economy continues to lag and the Bank of Canada has advised Canadians that the overnight lending rate will remain low until at least 2023.

The 0.99% interest rate however, won’t be available to everyone. In order to qualify for the mortgage you will need to be applying for an insured mortgage with less than 20% downpayment.

It is also important to know that there will be implications when it comes time to lock in. Mainly, exposure to potentially higher lock in rates and the prospect of big bank fixed rate mortgage penalties.

Thanks for watching the Union Home Mortgage Review video!

Watch the Union Home Mortgage Review video on Youtube



  1. MrViyasan
    July 23, 2021 at 9:18 pm

    Spoke to an HSBC advisor and she advised that their variable mortgage becomes open after 3 years. Not sure if there is a catch to that. Their turnaround times are a bit slow though.

  2. Salah Masad
    July 23, 2021 at 9:18 pm

    Hi Nolan –
    Can you review hsbc 5 year fixed 1.59%?

  3. RainCity84
    July 23, 2021 at 9:18 pm

    HSBC has always annoyed me with making the customer pay for the appraisal and needing an appraisal each renewal. its only like $300 or $500 on hundreds of grand, granted but its just annoying when everyone else just includes it. Especially when considering my place much more than doubled in the last 5 years its seems rather wasteful to need another appraisal unless one was pulling equity out. There sort of just randomly pop up every so often with great deals but otherwise are not competitive, its a odd tactic.

  4. Erik Carey
    July 23, 2021 at 9:18 pm

    Is this mortgage available in the US, if so, can I use it to purchase or refinance an investment property?

  5. Tyler Struyk
    July 23, 2021 at 9:18 pm

    "0.99 vs 1.25 difference is about the cost of coffee per week" Price difference is 1500 on a 300k mortgage = 5.77 per week. So he is correct….An expensive Starbucks coffee 🙂

  6. D P
    July 23, 2021 at 9:18 pm

    40mins is pretty good. lol my best record is 2 business days no conditions

  7. Nathan Loosemore
    July 23, 2021 at 9:18 pm

    Lost interest as I checked the website and there is no mortgage on there for 1 percent regardless of whether it's variable, a tracker or fixed with any LTV it is still not 1 percent. That'll explain why I've never heard of this.

  8. Dotti Rich
    July 23, 2021 at 9:18 pm

    Are they not Hong Kong/China owned? Ahhh Yes Canadian Dollars insured Mortgages

  9. Phil Nwanesi
    July 23, 2021 at 9:18 pm

    Thanks Nolan, this is very well explained

  10. Daniel Bileu
    July 23, 2021 at 9:18 pm

    Excelent analysis! Covered both the pros and the cons. I hope hsbc's interest drag down the other lender's interests rates, too. Thank you Nolan

  11. ScoobyDoo
    July 23, 2021 at 9:18 pm

    Can you use this offer as a bargain tool when negotiating with a different lender? Is this a common practice?
    Thank you for the video

  12. Ryan Thomas Woods
    July 23, 2021 at 9:18 pm

    Thanks for covering this!