- Available for business use: commercial property
- Interest compounded annually
- Term lengths 1 ,2, 3, 4, 5, 7 and 10 years
- All payment frequencies available
- Prepayment options
- You can prepay up to 20% of the original amount of the mortgage during each 12-month period from the anniversary date. This privilege is not cumulative from year to year and does not apply if you wish to prepay the mortgage in full, renegotiate the rate, or prepay more than 20%.
- If you wish to prepay in full, renegotiate, or prepay more than 20%, you'll pay the greater of:
- 90 days’ interest or
- the interest difference of the current posted rate of a similar mortgage type with an equal term.
- Convertible and buy down options/consolidations:
- Pay the greater of 75% of:
- 90 days’ interest or
- the interest difference of the current posted rate of a similar mortgage type with an equal term.
- May select any Business Closed Mortgage product
- For consolidations, the above penalties shall apply or a blended rate as approved by our Retail Team.
- Pay the greater of 75% of:
- Early renewal
- 3-month option to early renew
- Current expiry must be within 3 months or less
- Applicable application fees