Please note: Please be advised that due to ongoing labour disruptions at Canada Post, there may be delays in mail delivery. As a result, this may impact our ability to process and deliver certain services. If you are affected and need to discuss alternative methods to serve you better, please click here to contact us.
Please note that call wait times may be longer than usual. We appreciate your patience and understanding.
Attention : Notez qu’en raison d’une interruption de travail à Postes Canada, il pourrait y avoir des retards dans la livraison du courrier. Par conséquent, cela peut avoir une incidence sur notre capacité à traiter certaines transactions et à fournir certains services. Veuillez cliquer ici pour communiquer avec nous si cette situation vous affecte ou si vous voulez discuter d’autres façons de mieux vous servir.
Prenez note que les temps d’attentes pourraient être plus longs que d’habitude. Nous vous remercions de votre patience et de votre compréhension.
Understanding your options
When you’re moving to a new home, how do you handle your current mortgage? Whatever your needs are, speaking with one of our mortgage planners will help you choose which method is right for you.
Transfer your mortgage from home to home
Peoples Bank offers homeowners the option to transfer their current mortgage to the next home. With a portable mortgage, you can transfer its interest rate along with its existing terms and conditions.
- If there’s a port increase, you can borrow additional funds.
- If there’s a port decrease, normal payment rules apply.
Break your existing mortgage and get a new one
The main reason to break your mortgage is to obtain a lower interest rate. Perhaps a job relocation or family changes are requiring you to move.
Refinancing your mortgage could save you money in interest; however, you may incur fees or penalties. For closed mortgages, use the calculator below to calculate your prepayment penalty.