Manulife Bank has expanded its mortgage portfolio to help meet the needs of different clients. Manulife Bank now offers two unique mortgage and banking products: Manulife One and Manulife Bank Select.
Manulife One
How Manulife One Works
Manulife One is an innovative, all-in-one account that allows you to combine your mortgage, personal loans and lines of credit with your income and short-term savings. By combining your debt and savings in a single account with a competitive interest rate, you can save thousands of dollars in interest costs while gaining more control over your finances.
Rethink Your Approach To Debt
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Manulife Bank Select
Flexible Mortgage Banking
Manulife Bank Select provides you with an integrated banking solution that combines a traditional amortizing mortgage with a high-interest, full feature chequing account. This allows you to streamline and simplify your banking. Whether you are a first-time homebuyer, refinancing or want a more convenient or integrated way of banking, there is a range of mortgage choices with Manulife Bank Select that will meet your needs.
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Mortgage Insurance is an insurance policy which compensates the mortgage lender (often the bank) for the balance of the remaining mortgage at the time of the death of the insured home owner.  These are usually offered for sale directly by the mortgage lender…however if it is done through an insurance company we can save you money and pay off mortgages sooner!
CREDITOR INSURANCE – Something to think about
Often the insurance that banks offer to protect loans and mortgages is more expensive than individually owned insurance policies done through an insurance company.  With bank insurance the insurance only covers the balance of the loan and yet the premiums remain the same throughout the life of the debt.  These policies are not portable and if you switch lenders or increase your mortgage balance through re-financing, you will have to reapply for the coverage and qualify medically when done with the bank.

An interesting news story by CBC MarketPlace regarding Bank Mortgage Insurance is worth viewing.  Read More