#WelcomeHome – Canada Welcomes Harry and Meghan

Via @CanadianRealEstateMagazine.

“…Smart marketers rarely miss an opportunity and HSBC Canada has been quick to offer some forthcoming immigrants their mortgage services.

The bank has welcomed Prince Harry and Meghan Markel, the Duke and Duchess of Sussex, with a cheeky invitation to ‘apply for one of Canada’s lowest mortgage rates.’

In newspaper ads and social media posts, the lender says that ‘welcoming new people to Canada and helping them thrive’ is what they do best.

Although the couple will stop receiving payments from the UK government as working members of the Royal Family, they have a sizeable fortune and an expected surge in income from commercial activities.

But that doesn’t stop underwriting practice taking precedence, as shown by the phrase ‘invite you to apply’ for a loan; no guarantee that they will pass the usual checks!

Wealthy people are not necessarily cash buyers, especially when mortgage rates are low, as it can make more sense to use capital for other investments.

While Harry and Meghan should have no problem affording their piece of the Canadian Dream, there is expectation that their new neighbourhood will see price growth.

Although there is no certainty about the couple’s chosen location, real estate portal Zoocasa told HuffPost Canada that there has been a strong spike in searches for Victoria and Saanich…”

To read the whole article, click here.

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