Banks and mortgage lenders that charge fees to make certain payments including some mortgage, loan and withdrawals are in the spotlight following complaints from consumers. The NDP proposed ending these fees in a motion tabled Monday and the Conservatives have backed it. It says it will consider what action to include in its forthcoming consumer finance protection laws. Many banks recently introduced increased fees for a raft of transactions prompting a backlash from customers; Royal Bank of Canada scrapped its increases which were due to come into force this week following customer complaints.
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
More market watch: