mortgage advice

Anybody have good / bad experience dealing with citi for a residential property mortgage ? Currently, they seem to be offering the most competitive rates and I have an offer. But was concerned about hidden charges and fees. A little wary about big banks after a recent bad experience with HSBC (expensive forex trade with hidden charges). But on paper, Citi looks best so far. Any advice/experiences to share ?

Caveat emptor. Ask for a copy of the usual mortgage documentation to be signed, then you might have your answer. In years past they talked about a "mortgage" until signing which turned out to be a "personal loan", one that reverted to credit card interest rates if you missed a payment for I think one month. Was only informed of these unique features at settlement, imagine how impressed I was.


So any minor advantage can soon disappear. Maybe they have changed these practices, one would hope. That said, remains a practice with some local banks too (have signed something similar in recent years, but they were a very local mob so wasn't surprised, though I think the shifting to credit card usury rates were a unique feature of citi).


Standard Chartered on the other hand sent me a draft of the full agreement weeks in advance for my perusal. Lovely. They won a loyal customer there and then, and they are my first and hopefully only stop for a mortgage since.

Thanks, will look out for this. So far my experience has been the opposite ! Citi has been swift and professional while stanchart has been slow and sloppy and worse rates!. Just recieved the city facility letter and am going through the legalise.