121 King Street West.
A rare building I found on my tour today. The Standard Life Building at 121 King West is owned by its lead tenant. The Standard Life Assurance Company of Canada. The building itself is. 26 floors and has 507,000 square feet of rentable/leaseable space. Its located in the heart of the Toronto Financial District and is probably best known for its gold tinted glass and the massive LED that posts a stock ticker. It is next to 145 King West and across the street from 150 King West.
Getting a Mortgage and Mortgage Insurance through The Co-operators for financing a loan to purchase at FIVE Condos is actually a relatively easy process, and new rules from the federal government has required that company include new regulations, which have made the home loan and mortgage process a bit more difficult. Those changes at The Co-operators include shortening the amortization period for which the loan can be held by the consumer, and the degree to which the property is financed by the mortgage. They have also increased deposit requirements to lift the loan insurance amount. Mortgage insurance from The Co-operators is actually one of the major financing costs on home loans.
Investment Trusts have no taken to looking to purchase rental properties and acquiring mortgages through financing auctions by the banks looking to shore up their balances sheets in light of stricter government regulation. These regulations have actually made holding residential mortgages by the large financial institutions harder to hold.
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