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Making the application process easier and quicker: Streamlined TitlePLUS underwriting for many residential properties over $1 million
Constantly looking for ways to improve processes, we are pleased to provide an easier application process for some residential properties in Ontario over the $1 million mark.
Our standard automated underwriting now applies to the following types of properties (for purchase, mortgage-only and OwnerEXPRESS policies):
- New and resale condominiums, up to $2 million;
- New homes purchased from builders, up to $2 million;
- Vacant land intended for residential purposes, up to $2 million; and
- Resale freehold homes with municipal water and septic/sewage systems, up to $1.5 million.
Additional due diligence and completion of an Excess Coverage Chart are no longer required for these properties.
If you have any questions, please call the TitlePLUS Customer Service Centre at 1-800-410-1013.
Categories: 2013 September practicePRO 15th, Articles, Real Estate, TitlePLUS