$650 to register a charge for a HELOC - reasonable?

musicgold · 2025-10-15T16:27:20-0400

I am working with a bank to get a HELOC on my residence. The bank is asking $650 for registering the charge.

Is that a reasonable fee for that work? Would I be able to do it for less from a lawyer in the GTA?

Thanks

Money172375 · 2025-10-16T08:38:56-0400

Seems reasonable to me. Does that include the appraisal?

the fee to register was $499 when I was working but that was close to 10 years ago now.

Farouk · 2025-10-16T10:19:28-0400

Here is my recent experience with RBC

Mortgage discharge fee 383.11 (Sep 2024)

Paid off 5 year variable mortgage on Prinicipal residence

1) 3 months penalty
2) Home line plan converted to HELOC only 60% of the original mortgage
No fees

650 seems reasonable for new HELOC.

Get the maximum HELOC of 60% of the banks valuation which is usually very generous.

$650 to register a charge for a HELOC - reasonable?

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