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Mortgages

I'm selling my house

Unless you own your home outright, you'll need to discharge your current mortgage when you move. Usually, you'll have 3 options.

OPTION 1: Pay off your mortgage

This can be a good choice if:

  • You have a 'fully open' mortgage with no prepayment charges
  • Your remaining balance is small
  • You're not planning to buy again
  • Current mortgage rates offer you no financial advantages

This may not be a good choice if:

To find out more about paying off your mortgage, talk to a Mortgage Specialist

OPTION 2: Take your mortgage with you when you move

Our Portability Plus option can help you save when you move − especially if current rates are considerably higher than your rate. It lets you:

  • Take your existing mortgage with you when you buy a new home; if you like, you can increase your loan amount and blend your existing rate with the current market rate for the new funds

To find out more about taking your mortgage with you, talk to a Mortgage Specialist

OPTION 3: Allow your buyer to assume your
existing mortgage

This may be a good option if:

  • You took out your current mortgage when interest rates were much lower (often attractive to buyers)
  • You're buying a smaller property and still have several years remaining on your term (could help you get rid of your mortgage without prepayment charges)

To find out more about this option, talk to a Mortgage Specialist