Making mortgage payments easier

🏗️ Building Neo
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The process of making mortgage payments can be unnecessarily difficult. For example, TD direct debits regular mortgage payments, but the only way to pay anything extra is to go to the branch or by phone. They have a mobile app and a website but no way to make mortgage payments online.

Would be great to be able to link external mortgages to see everything in the Neo app and make any amount of extra payments anytime from the app to save on interest, view mortgage balance, current interest rate, how many month left until it’s paid off, how much prepayments are allowed etc with instant money transfers from the Neo app towards the mortgage balance. On the other hand, it would be cool to have an ability to get a HELOC from the app with existing mortgages and cash out borrowed equity into Neo accounts. I don’t have an experience with HELOCs, but getting one looks like a painful experience that requires an appointment at a branch and a lot of hassle, like everything banking in Canada.

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Thanks @Paul, adding our Mortgage leader @Celene-Neo for consideration and any thoughts

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Thank you for your feedback, @Paul! We understand how frustrating it can be to navigate mortgage payments and financial services in general. We’re always exploring ways to improve our offerings and provide a more seamless, user-friendly experience for our customers. Your suggestions around managing mortgages, making extra payments, and linking external accounts are incredibly valuable, and we’ll be sure to take them into consideration as we continue to develop our product features. Stay tuned for updates as we work to make managing your finances easier!

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Great Idea here Paul. I agree that it doesn’t need to be a hassle, it would be great to be able to not only see everything but manage it all in the app as well. I will definitely be taking this piece of feedback back to the team. I’ll keep you posted.

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