Please note: Due to a scheduled system maintenance, Interac e-Transfer will be intermittently unavailable on Friday, July 11th, 2025, between 10:00 pm – 03:00 am PT (01:00 am – 06:00 am ET on Saturday, July 12). We apologize for any inconvenience.
Attention : En raison d’une maintenance programmée du système, les Virements Interac seront indisponibles par intermittence, le Vendredi 11 Juillet 2025, entre 22h00 et 03h00 HP (01h00 et 06h00 le samedi 12 Juillet 2025 HE). Nous sommes désolés des inconvénients.
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.