Fixed-rate mortgage

Early termination penalty in the event of the sale of condominium units

Category Fixed-rate mortgage | Source Annual Report 2017/04

The client owned a rental property comprising five rented apartments. In 2015, he took out a fixed-rate mortgage with the bank over ten years. One year later he informed the

[continue reading…]



Early termination penalty for premature repayment of a fixed-rate mortgage

Category Fixed-rate mortgage | Source Annual Report 2017/03

The client sold his property. Since he was required to repay two current mortgages early, the branch of the bank dealing with his case asked him to pay high early

[continue reading…]