| Transfer Fee: |
Charges |
| Mortgages - transfer from one mortgage type to another |
$200.00 |
| Consent to second mortgage (where credit union holds first mortgage) |
$300.00 |
| Legal Fees |
Cost |
| Production of deeds |
Cost |
| Land title office registration |
Cost |
| Stamp Duty on Security |
Cost |
| Mortgage Preparation |
Cost |
| Discharge administration costs |
$350.00 |
Discharge fee |
$600.00 |
Early Repayment Fee
(repayment of loan within 5 years): |
Charges |
| Discounted Rate Loans |
0.7% of loan balance |
| Standard Rate Loans |
0.2% of loan balance |
| Fixed Rate Loans |
Charges |
| Break Cost |
Amount is equal to the Credit Union’s estimate of loss due to breaking of fixed rate period. This would be advised at time of discharge. |
| Search fee |
$20.00 |
| Bank Cheque fee (for loan settlement per cheque) |
$30.00 |
| Valuation fee |
Cost |
| Lender mortgage insurance (if required) |
Cost |
| Vehicle Mortgage |
$20.00 |
| Vehicle Mortgage - stamp duty |
Cost |
| Extension of Vehicle Mortgage |
$5.00 |
| Arrears Fees |
Charges |
| 1st reminder letter |
$15.00 |
| 2nd reminder letter |
$25.00 |
| Letter of demand |
$50.00 |
