One-Year Open Mortgage
Pay a little extra, at any time without incurring administration costs or prepayment charges. And although the interest rate is fixed for the full year, you have the flexibility to convert your mortgage to a closed term at any timeA,1, without a fee.
|Interest Rate:||Fixed for 1 year|
|Financing Available:||Conventional and high-ratio|
|Payment Frequency:||Weekly, biweekly, semi-monthly, monthly, rapid weekly, rapid biweekly|
Regular payments can be increased by up to 100% over the term without charge once per calendar year
Full or partial prepayments on any date without charge
1 Must be converted to a fixed term longer than the remaining term.