Sell your home

If you have a closed mortgage and decide to sell your home before the end of term, changing the mortgage could result in certain fees. Below are four ways to eliminate them:

Rollover mortgage

To avoid additional fees, you can transfer the interest rate, balance and expiry date of the term of your existing mortgage to a new loan. Any amount over and above your current balance will then be lent to you at the prevailing rate, depending on the desired term.
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Your fees will be waived, if the Bank grants a mortgage loan to the purchaser of your property for an amount AND a closed fixed rate AND a term that are equal to or greater than those of your existing mortgage.

Double the mortgage

No fees are charged, if you or your purchaser take out a closed mortgage for a total amounting to at least twice your outstanding mortgage.

Assume mortgage

You do not have any additional fees to pay, if your purchaser assumes your mortgage.