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Service Fees

MCAP Service Fees - Effective March 31, 2016
Privilege payments No charge
Renewal1 No charge
Early renewal $75
Mid-term changes $82
Hold-a-payment $82
Skip-a-payment $82
Amortization schedule No charge
Return payments
(includes but not limited to NSF, Stopped payments, Funds Not Cleared)
$99.75
Covenant removal $350
Qualified Assumption $450
Refinance and porting $150
Discharge2 $365
Government Charge for Discharge3 No charge
Assignment/transfer4 $365
Lapse in Fire Insurance $250 every 3 months
Tax Account Breakdown $75 per hour
Tax Account Cancellation Fee $75.00
Records Research Fee $75 per hour
Information Statement $20
Additional Document Reprint (eg. Annual Statement) $25
Reinvestment5:  
Year one $500
Year two $400
Year three $300
MCAP Home Account – Online Transfer $1.50
MCAP Home Account – Telephone Transfer $1.50

We will charge you other fees as 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, a 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 of our 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 $74.72 in Ontario and $87 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.