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MORTGAGES |
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Fees |
- A fee of $45 (or such lower amounts as permitted by law) applies to the following: each cheque or pre-authorized debit ("PAD") returned unpaid, for late or missed payments, duplicate statements or manual payments, changes to payment details, paying bills on your behalf.
- A renewal fee of $150 applies for self-directed mortgage loans, $85 for rental properties and $85 for past due mortgage loans that are auto-renewed. There is no renewal fee for all other mortgage loans.
- A discharge fee of $250 applies to residences of all provinces other than British Columbia and Alberta. Until changed by law, for residents of British Columbia, the discharge fee is $75 and for residents of Alberta there is no discharge fee.
- In addition, if your mortgage loan is in default for any reason you will pay one or more of these amounts: the missed payment, interest, costs, fees and expenses, including legal fees and disbursements which we may incur to recover the amount owing, to protect the property given as security or to take legal action under the terms of the mortgage loan.
- All fees, costs and expenses are payable as they become due and, if not paid directly, we may add the unpaid fees, costs and expenses to the principal amount of your mortgage loan.
- Click here for the self-directed mortgages fees leaflet.
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