April 16, 2007 11:01 ET

National Bank's Made-to-Measure Mortgage Offers More Flexibility

MONTREAL, QUEBEC--(CCNMatthews - April 16, 2007) - National Bank (TSX:NA) is integrating an advisory approach into its line-up of mortgage financing solutions and giving its clients the opportunity to personalize their mortgage through the Customized Mortgage Plan and Made-to-Measure Mortgage (1).

The Customized Mortgage Plan is a questionnaire that enables Bank advisors to fully grasp their clients' needs and expectations by discussing and analyzing their personal financial situation before proposing a solution in keeping with their budget, risk tolerance and financial commitments.

Then, using the Made-to-Measure Mortgage, advisors can divide their clients' mortgage financing into several portions, each with its own rate, term, payment frequency and amortization. For maximum flexibility, a portion of the loan can even be in the form of a mortgage line of credit (2).

The Made-to-Measure Mortgage adjusts to clients' current and future obligations by grouping together all financing, while keeping each project separate to make them easier to monitor. That way, if their needs change, clients can modify the conditions of one portion of their loan without having to renegotiate their entire mortgage.

Advantages of the Made-to-Measure Mortgage

- Clients no longer have to choose between saving interest and having stable payments; they can combine fixed and variable rates and benefit from the advantages of both types of product.

- By staggering their mortgage terms, clients can protect themselves against future rate hikes while enjoying the interest savings offered by short-term rates.

- Since a portion of the loan can be an All-In-One™ mortgage line of credit, clients decide the amount they want to repay on that portion and adjust their payments to their cash flow. They can also draw on their repaid principal.

(1) Subject to credit approval by National Bank.

(2) Subject to credit approval by National Bank. For loans exceeding 75% of the value of the property, provided that a loan insurer authorized by National Bank agrees to insure the loan. Certain conditions apply.

About National Bank of Canada

National Bank of Canada is an integrated group which provides comprehensive financial services to consumers, small and medium-sized enterprises and large corporations in its core market, while offering specialized services to its clients elsewhere in the world. The National Bank offers a full array of banking services, including retail, corporate and investment banking. It is an active player on international capital markets and, through its subsidiaries, is involved in securities brokerage, insurance and wealth management as well as mutual fund and retirement plan management. National Bank has more than $120 billion in assets and, together with its subsidiaries, employs 16,908 people. The Bank's securities are listed on the Toronto Stock Exchange (NA:TSX). For more information, visit the Bank's website at

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Contact Information

  • National Bank of Canada
    Denis Dube
    Director, Public Relations