This translated into a 33% gain in overall loan volumes at Manulife. Impressive stuff!
Manulife does have competition in the “all-in-one” HELOC space. The thing is, their competitors barely advertise. They include:
- National Bank (All in One)
- Canadian Tire (One and Only)
- Envision (Redfrog)
- Investors Group (All in One)
All in one mortgages are a type of readvanceable mortgage where the positive balances in your bank accounts can offset the interest you owe on your mortgage–theoretically saving you money. In practice, however, (depending on the case) there may be better ways to achieve the same goal. Talk to a mortgage planner that knows these products for details.
Here’s a comparison of all readvanceable mortgages.