Second mortgage rules and costs, province by province
Mortgage law is provincial. Licensing, disclosure, taxes and legal costs all change when you cross a provincial border, so start with where your home is.
A mortgage professional must be licensed in the province where your home is. A licence in Ontario does not cover a home in British Columbia. That is why the form asks for your province first: it decides who may legally help you.
Land transfer tax, legal fees and the way a lender can enforce its loan also differ by province. Each province page sets out what applies there and where the figures come from. Pages marked in progress are still being written, and the form already works for every province.
