Service Fees

MCAP Service Fees - Effective March 31, 2017
Privilege payments No charge
Renewal1 No charge
Early renewal $75
Mid-term Loan changes $82
Hold-a-payment $82
Skip-a-payment* $82
Amortization schedule Free Online, $25 per hardcopy
Return payments
(includes but not limited to NSF, Stopped payments, Funds Not Cleared)
Covenant removal $350
Qualified Assumption $450
Refinance and porting $200
Discharge2 $365
Government Charge for Discharge3 Varies by province
Assignment/transfer4 $365
Government Charge for Transfer $0
Lapse in Fire Insurance $250 every 3 months
Tax Account Breakdown Free Online, $25 per hardcopy
Tax Account Cancellation Fee $75
Records Research Fee $75
Information Statement $20
Additional Document Reprint (eg. Annual Statement) Free Online, $25 per hardcopy
Reinvestment5: $0-$500
MCAP LOC – Same Day Transfer $25
Payment of Tax Arrears less than $1,000 $75
Payment of Tax Arrears greater than or equal to $1,000 Greater of $150 or 10%
Payment of Tax Arrears less than $50 $0
Payment of Utility arrears /school taxes if separate from tax realty municipality
(greater than $50 and less than $500)
Payment of Utility arrears /school taxes if separate from tax realty municipality
($500 or greater)
10% of paid arrears
Payment of Utility arrears /school taxes if separate from tax realty municipality
($50 or less)
Appraisal Fees (Varies by Geography) $200 - $500
Non-Qualified Assumptions $1000
Bridge Loan Processing $250
Partial Discharges $250
Courier Fees $15
Repayment History Free Online, $25 per hardcopy
Legal Action: Default Administration $250
Legal Action: Bankruptcy Administration $250
Legal Action: Payment of Condo Arrears $150+

We will charge you other fees as where applicable, which may include fees in connection with the administration of the Mortgage. These fees are a reasonable estimate of the costs and expenses we will incur for actions taken, or for disbursements or charges incurred by us as a result of a request by you, failure by you to perform your Obligations under the Mortgage, or as a result of a default by you. The payment of a fee shall not be deemed to be a consent, waiver or release from any terms of your Mortgage (including any breach thereof by you) and we reserve all rights to enforce the original terms of your Mortgage, including any and all of our rights on your default. All of our fees are subject to change from time to time. If you have any questions about the nature and amounts of these fees please contact our Customer Service Centre. Changes in fees will be communicated to you in accordance with regulatory requirements.

Note A: We reserve the right to change our fees at any time, without notice.
Note B: Provincial taxes, if applicable, are in addition to all of the above fees.

  1. A fee can be charged in the event of poor repayment history.
  2. Excluding Alberta and Quebec, where there is no fee; in Manitoba the fee is $100 and in British Columbia, the fee is $75.
  3. The government charge to register the discharge is $75.27 in Ontario and $89 in Manitoba; this will be charged in addition to the Discharge fee.
  4. Excluding Quebec, where there is no fee; the fee in Newfoundland is $50, and the fees in Nova Scotia and PEI are $25.
  5. For new mortgages committed on or after March 31, 2008 and for renewals offered on or after March 31, 2008. Varies by amount of time remaining in the mortgage term.

     *   Upon approval.