What is a Collateral Charge?

Mortgages allow flexibility to customers to ensure a two-way benefit. Your mortgaged property value increased? You can refinance your mortgage with no extra charge, legal, or processing fee! However, the cost of this would be the higher interest rate that is charged for these type of mortgages.


Make sure you get the right mortgage for yourself! There are various types of mortgages you can choose from: Reverse, Combination, Portable, Collateral Charge, etc.


https://www.chango.ca/glossary/collateral-charge/


Feel free to comment below if you have any questions.

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