Are you aware that your closed-term mortgage loan could be portable?
With the Laurentian Bank's Portability Program, you could keep the terms and conditions of your current mortgage loan (such as the remaining term and amortization, loan balance, interest rate and payment frequency) when:
- refinancing your current property, or
- selling your property and buying a new one.
You could even transfer the terms and conditions of your current loan to a buyer.
If you're refinancing your property, you could avoid the prepayment penalties. If you're selling, you could get a full or partial reimbursement of the prepayment penalties.
Some conditions apply. For details on the Portability Program, call one of our advisors at 514-252-1846 or 1-800-252-1846, or drop by a branch.