• Customers can save an average of $4,054 on home equity and get guaranteed closing costs on mortgage loans

PORTLAND, Maine (Business Wire EON) March 15, 2007 -- This spring, TD Banknorth is making it easy for consumers shopping for mortgages or home equity loans and lines of credit to get the answers and cost-savings they need. TD Banknorth’s Smart-Equity Combo offer customers the opportunity to save money on their home equity, and its Hassle-Free Mortgage Guarantee ensures a simple mortgage process with no surprises.

Plus, the minimal requirements make working with TD Banknorth easy. Customers can even log on to www.TDBanknorth.com for an online calculator to see just how much they can save.

Homeowners looking to tap into their home’s equity should be sure to check out TD Banknorth’s Smart-Equity Combo before making a decision. Like a home equity loan and line of credit in one, the Smart-Equity Combo can save the average customer a whopping $4,054 on their home equity, based on a competitive 10-year loan rate. TD Banknorth is offering the Smart-Equity Combo at prime -.51% with the option to fix a portion at 6.69% APR for 10 years.

“TD Banknorth’s Smart-Equity Combo really is a smart choice for homeowners, because it allows them to lock a portion of their home equity into a low, fixed rate, and keep the remainder of their home equity in a flexible line of credit,” said Leigh Bagley, manager of Consumer Lending, TD Banknorth. “Plus, the minimal requirements make working with TD Banknorth easy. Customers can even log on to www.TDBanknorth.com for an online calculator to see just how much they can save.”

The Smart-Equity Combo is available for lines of $25,000 to $1,000,000 and loans of $50,000 to $1,000,000. There are no closing costs. Customers can sign up for the Smart-Equity Combo with this great rate through April 13, 2007.

Additionally, TD Banknorth is making a promise to its mortgage customers to make what is often a complex financing process much easier. TD Banknorth’s three-pronged Hassle-Free Mortgage Guarantee takes away much of the confusion and surprise related to securing a mortgage by offering: a same-day loan decision; guaranteed closing costs; and on-time closing. If TD Banknorth is unable to deliver on any part of the guarantee, they promise to pay the customer $250.

“Research shows that in addition to competitive rates, customers want to avoid surprises during their mortgage purchasing process,” said William Zafirson, senior vice president, Mortgage, TD Banknorth. “We understand that some of the biggest pain points for consumers are related to closing costs, which can be difficult to understand and often change throughout the mortgage application process. With TD Banknorth’s Hassle-Free Mortgage Guarantee, customers can benefit from fast approval, guaranteed closing costs, and plan their move with confidence.”

For more information about the Smart-Equity Combo, the Hassle-Free Mortgage Guarantee, or any of TD Banknorth’s mortgage and home equity solutions, visit your local TD Banknorth branch or log on to www.TDBanknorth.com.

About TD Banknorth Inc.

TD Banknorth Inc. is a leading banking and financial services company headquartered in Portland, Maine and a majority-owned subsidiary of TD Bank Financial Group. At December 31, 2006, TD Banknorth had $40 billion of total consolidated assets. TD Banknorth's banking subsidiary, TD Banknorth, N.A., operates banking divisions in Connecticut, Maine, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania and Vermont. TD Banknorth and TD Banknorth, N.A. also operate subsidiaries and divisions in insurance, wealth management, merchant services, mortgage banking, government banking, private label credit cards, insurance premium financing and other financial services and offers investment products in association with PrimeVest Financial Services, Inc. The TD Banknorth common stock trades on the New York Stock Exchange under the symbol "BNK." For more information, visit http://www.TDBanknorth.com.