Platinum Refinance Program

Platinum Refinance Program
Product and Process at a Glance
For clients asking for fixed legal fees and prompt service in the convenience of their own home,
ING DIRECT now offers clients this service through First Canadian Title (FCT).
Product Overview:
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Fixed pricing and lower overall legal costs in many cases
Convenient in-home signing appointment (n/a in BC or QC)
Single point of Contact at FCT
Prompt funding process
 This program is not available in the Northwest Territories
What’s Included:
All searches, mortgage registrations, payouts of secured & unsecured debts, all discharge registrations
and one signing appointment with FCT agent.
 This package does NOT include Title Insurance for the homeowner
Provincial Pricing *
Province
Program Fee
Additional Fee for
Mortgage Registration & Conversion
BC
$544.00
N/A
$45. cancellation fee if less than 4 hrs prior to appointment
AB
$549.00
Variable registration fees included
SK
$599.00
$75.00 each title over 4
MB
$569.00
N/A
ON
$639.00
N/A
QC
$739.00
N/A
NB
$659.00
NS
$679.00
$300.00 for properties requiring conversion
NF L D
$779.00
$0.40 per $100.00 of total property value minus the existing
mortgage prior to refinancing
PEI
$669.00
Collateral variable registration fees included.
Conventional variable registrations fees are not included
$272.00 for properties requiring conversion.
Additional PID fees included
* All fees will be deducted from the Mortgage advance or HELOC
$100 additional signing appointment fee / $100 file cancellation fee after signing
ADDITIONAL PREMIUMS FOR MORTGAGES OVER $750,000
Additional Premium
PST on Premium**
Mortgage Amount
(applicable to all provinces)
(Ontario & Quebec only)
$750,000.01 to $1,000,000.00
$100
$1,000,000.01 to $1,500,000.00
$250
$1,500,000.01 to $2,000,000.00
$350
$2,000,000.00 an Over
$750
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ON - $8.00
QC - $9.00
ON - $20.00
QC - $22.00
ON - $28.00
QC - $31.50
ON - $60.00
QC - $67.50
Platinum Refinance Program
Product and Process at a Glance
Broker Process
Step 1: Broker completes application and submits to ING DIRECT for approval.
(In “Lender Notes” section, please ensure that client Day-time & Night-time contact numbers have been included for the
Borrower(s) as well as Pooling/Originating Agent name, email address & phone numbers are provided)
Step 2: Once approved,
 ING DIRECT forwards “Mortgage Approval Letter “ to Broker
 Broker Prints “Letter of Direction” from ING DIRECT website “ingdirectbrokerteam.ca”
(if applicable - for secured payouts)
A separate “Letter of Direction” is required for each existing mortgage/line of credit being paid out
and/or requiring a payout or information statement.
Step 3: Broker has Borrower(s) complete and sign the above documents as well as obtaining
any other information required to satisfy all conditions noted on the mortgage approval.
 Clients must indicate “FCT Flat Fee Program” in the “LAWYER DETAILS” section when
returning the Signed Approval Letter to ING DIRECT.
Step 4: Once the Broker conditions of the Mortgage Approval Letter have been satisfied, the
Broker forwards the documentation to ING DIRECT.
ING DIRECT submits the Request for Insurance to FCT.
• FCT will arrange for the preparation of all of the necessary paperwork
• FCT will arrange for an appointment for the documents to be executed by the borrower(s)
• FCT requires minimum of 10 business days from receipt of instruction package to fund deal
• FCT will order required payout statements
The Broker will receive email notifications at the following milestones:
 Request for Insurance Received
 Notice of Delay (if applicable)
 Payout Statement Ordered
 Payout Statement Received
 Appointment Date
 Funding Complete
BROKER HOTLINE: For all deal Inquiries contact FCT at 1-855-500-3565
Additional Process Flow
•
FCT completes all necessary searches and conducts due diligence. If there are any Title
discrepancies, FCT will resolve these with ING DIRECT and the Borrower(s). A lawyer/notary will
be engaged if required and any additional fees are the responsibility of the borrower(s).
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The FCT Signing Representative contacts the Borrower(s) to book the signing appointment. This
appointment takes place at the Borrower(s)’ home. The FCT Signing Representative takes ID
and witnesses the Borrower(s)’ signatures.
•
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ING DIRECT and FCT fund the mortgage. FCT pays out the secured and unsecured debts, as
requested.
For Quebec and BC Provinces an FCT approved Notary/Lawyer will contact borrower(s) to set up
an appointment at the Notary/Lawyer office to review documents and obtain borrower(s) signatures.
Contact your ING DIRECT Regional Sales Manager for training.
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