College Park is getting a new mall, called the "Shops at Aura" which will be opening up over the next few days. The new mall includes retail by Bed Bath & Beyond, Marshalls, Bank of Montreal, and 100's of other retailers which will operate out of owner-occupied units. Unique concept that should bring back some shopping variation not seen since "The Yonge Street Mall" Do you remember that pile? Lol! Yes it was demolished to make room for the AMC (10 Dundas East) In case you forgot...
College Park seems to be making a pitch to have the new segment connected to the PATH, however the Delta Chelsea is not playing ball, and does not want the riff raff running through their basement. Thankfully Aura/College Park will have the option of going through Ryerson or 43 Dundas West in an effort to get down to the Atrium on Bay.
Getting a Mortgage and Mortgage Insurance through National Bank Insurance 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 National Bank Insurance 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 National Bank Insurance 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. Currently investors are looking to increase their position in rental properties in Toronto, at the same time the federal government in co-operation with the financial institutions are making getting and qualifying for loans and mortgages more difficult
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