Atlantic Canada mortgages 90 or more days behind, June 2026
0.30%As of June 2026 monthly series.Source
New licensing framework for brokers and brokerages
April 1, 2025As of Mortgage Brokerages and Brokers Act.Source
Registry of Deeds mortgage fee, base
$100 plus 40 cents per extra $100As of schedule dated May 1, 2007.Source
Maximum fee to register a mortgage
$5,000As of schedule dated May 1, 2007.Source
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Newfoundland and Labrador has the newest mortgage licensing law in this group of provinces, a registration fee that scales with the loan and an enforcement route that mostly avoids the courtroom. Each is covered below with what we could verify.

A licensing system that is under two years old

On April 1, 2025, the province’s new framework under the Mortgage Brokerages and Brokers Act took effect. The government’s release lists a licensing framework for brokers and brokerages, education and continuing education requirements, mandatory errors and omissions insurance, trust account rules for brokerages, stronger client disclosure obligations and administrative penalties. It names the Department of Digital Government and Service NL as the regulator.

The Act provides for a Superintendent who issues licences and keeps a public register. A new system also means some people and firms are still learning it. So before you share anything, ask for the person’s licence and brokerage, and look them up. If the register does not show them, ask why not.

Registry of Deeds costs

We found no land transfer tax in the province. The Registry of Deeds charges a fee instead. The published schedule sets $100 for registering a mortgage of up to $500, and $100 plus 40 cents for each additional $100 or part of $100 above that. No one pays more than $5,000 to register a mortgage. The schedule we read is dated May 1, 2007, so the amounts may have changed, and your lawyer should give you the current figure.

On a $100,000 second mortgage the formula gives $498, as the first example shows. The second example shows how the fee climbs with the loan. That scale is different from a flat fee, and it means a large loan costs you more to register as well as to carry. Interest, the lender fee, the broker fee, an appraisal and legal costs sit alongside. Our costs and fees page lists them.

Private lenders to compare

We could not find an official provincial figure for private lenders’ share of mortgages, so we do not quote one. Compare instead. A bank or credit union is the first call. If a private lender is next, ask for the lender’s name, every fee in dollars and the exit plan, and check the broker’s licence on the Superintendent’s register.

Arrears in Atlantic Canada

CMHC’s Fall 2026 report puts Atlantic Canada at 0.30% of mortgages 90 or more days behind in its June 2026 monthly series. It does not separate Newfoundland and Labrador. CMHC expects more moderate upward pressure in the region through mid-2027, grouped with British Columbia.

A regional figure says little about one household. If you are behind, call your lender before the arrears reach three months, and write down what was said.

Power of sale

Torys says power of sale is the primary remedy for lenders in Newfoundland and Labrador, with judicial listing available but not primary. A power of sale under the Conveyancing Act starts with written notice to the mortgagor and other registered encumbrancers or guarantors, and the Act is described as requiring a written appraisal before a sale. Ask a lawyer how those requirements apply to the notice you hold.

Foreclosure remains a legal option alongside power of sale. In practice, keep every notice, note when each arrived and see a lawyer straight away. Our power of sale guide walks through the stages that apply in provinces where it is the main route.

Reading the loan-to-value before you agree

Lenders look at combined loan-to-value, the total of your first mortgage and the new loan as a share of the home’s value. The first example lands at 75%. That is high enough that a fall in prices, or a few months of costs and interest piling up, could leave a second mortgage lender short on a forced sale. If the figure is above 75% on your own numbers, ask what a smaller loan would cost, and whether a smaller loan would solve the problem.

Keep the commitment letter, the fee disclosure the new rules call for, your lawyer’s report and the registered mortgage together. They are what you will need if you ever have to question a charge, make a complaint to the regulator or show a lawyer what you agreed.

Questions to put to a Newfoundland and Labrador broker or lender

  • Which licence do you hold under the Mortgage Brokerages and Brokers Act, and can I see it on the register?
  • Who is the lender, and who is my lawyer acting for?
  • What are all the fees and the interest in dollars, and what is due at the end?
  • What does a renewal cost?
  • What notice will I get if I miss a payment, and how will it be delivered?

Ask each lender to put the same five things in writing: the interest rate, the lender fee, the broker fee, the term and what is due at the end. Offers are only comparable when they are laid out the same way, and a lender who will not do that is giving you information too.

Other options before borrowing

A bank refinance, a payment plan, a Licensed Insolvency Trustee’s view on a consumer proposal, or selling the home may cost less than a second mortgage. Run your own numbers through the calculator, including the registry fee and every lender charge, before you decide, and keep a copy of the result.

Where to start by city

St. John’s is the largest market. Sourced local figures are on the St. John’s page. The form at check my options works for every community in the province, from the Avalon to Labrador.

Land transfer tax and registration in Newfoundland and Labrador

We found no land transfer tax in Newfoundland and Labrador. Instead, the Registry of Deeds charges a fee on the value of what is registered, and the same sliding formula applies to a deed and to a mortgage. For a mortgage the published schedule is $100 for the first $500 and 40 cents for each further $100 or part of $100 secured, with a maximum of $5,000.

The Schedule of Fees Prescribed by the Minister of Government Services we read, dated May 1, 2007, sets the mortgage fee at $100 plus forty cents for each additional $100 or part of $100, and no one pays more than $5,000 to register a mortgage. The date means the amounts may have changed, so ask your lawyer to confirm the current Registry of Deeds fee, and expect their own fees too.

The regulator is Department of Digital Government and Service NL.

Cities in Newfoundland and Labrador

A $100,000 second mortgage on a $400,000 Newfoundland and Labrador home

Made-up figures except the registration fee, worked from the published schedule: $100 for the first $500 plus 40 cents for each further $100, so 995 further blocks on $100,000. That schedule is dated 2007, so confirm the current fee. The first mortgage is $200,000. The loan is interest only at an assumed 12% for one year, with an assumed 2% lender fee, a 1.5% broker fee and $2,200 for legal and appraisal.

Combined loan-to-value
75%

$300,000 owed on a $400,000 home

Interest for a year
$12,000

$100,000 at 12%

Lender fee
$2,000

2% of $100,000

Broker fee
$1,500

1.5% of $100,000

Legal and appraisal
$2,200
Registry of Deeds fee
$498

$100 plus 995 blocks at 40 cents, $398

Cost of borrowing in year one
$18,198

About 18.2% of the $100,000 for the year. At 75% combined loan-to-value, there is not a large cushion if prices fall.

Illustration only. The figures are made up to show the arithmetic. They are not a quote, a rate or an offer.

How the Registry of Deeds fee grows from a $50,000 to a $250,000 mortgage

Made-up loan sizes, with fees worked from the published schedule dated May 1, 2007: $100 plus 40 cents for each additional $100 or part of $100 above $500. Confirm current amounts with your lawyer.

Fee on a $50,000 mortgage
$298

$100 plus 495 blocks at 40 cents, $198

Fee on a $100,000 mortgage
$498

$100 plus 995 blocks at 40 cents, $398

Fee on a $250,000 mortgage
$1,098

$100 plus 2,495 blocks at 40 cents, $998

Extra fee from $50,000 to $250,000
$800

Registration scales with the loan, so a bigger loan costs more to register as well as to carry. The $5,000 cap only matters on very large mortgages.

Illustration only. The figures are made up to show the arithmetic. They are not a quote, a rate or an offer.

Questions people ask

What did Newfoundland and Labrador change for mortgage brokers in 2025?

A new licensing framework took effect on April 1, 2025 under the Mortgage Brokerages and Brokers Act. The province lists licensing for brokers and brokerages, education and continuing education, mandatory errors and omissions insurance, trust account rules, stronger client disclosure and administrative penalties.

Who regulates mortgage brokers in Newfoundland and Labrador?

The provincial release names the Department of Digital Government and Service NL. The Act provides for a Superintendent of Mortgage Brokerages and Mortgage Brokers who issues licences and keeps a public register. Use that register to check a name before you share documents.

Why is the Registry of Deeds fee bigger on a larger mortgage?

The published schedule sets $100 for the first $500 and 40 cents for each additional $100 or part of $100, with a cap of $5,000. So the fee scales with the amount secured, unlike a flat fee in some other provinces. Ask your lawyer for the current figure.

What notice must a lender give before selling under power of sale here?

The Conveyancing Act requires written notice to the mortgagor and other registered encumbrancers or guarantors, and is described as requiring a written appraisal before a sale. How the notice must be given can be a legal question, so show any notice you receive to a lawyer straight away.

Is power of sale the usual remedy in Newfoundland and Labrador?

Torys says power of sale is the primary remedy for lenders in Newfoundland and Labrador, with judicial listing available but not primary. Foreclosure remains a legal option alongside it. The lender's notice should say which step it is taking.

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Sources