Safety Net Mortgage

We’ve got you covered with our Safety Net Mortgage. Whether you loose your job or want to stay home with your children; we have flexible mortgage options to ensure you do not default on your payments when life throws something your way.

Speed up

Your monthly principal and interest payments may be increased once each calendar year, up to a maximum of 100% of the regular principal and interest payment provided payments are made by the pre-authorized payment plan.


Up to 20% of the original amount of your mortgage may be repaid each calendar year.  A minimum payment amount of $1000 is required and can be applied a maximum of 6 times per year.

Slow down

Keep making your regular payments — just make them a little smaller. If you know you'd like to slow down your payments in the future, increase your payments in advance. When the time comes, you're set to make payments that work for your current situation.

Take a break

If you know change is on its way, you can prepare by prepaying in advance. Request to take up to twelve months off your payments by prepaying, either a lump-sum or by adding more to your regular payments in advance.

•When you use your prepayment options, your principal prepayments go towards building a Safety Net of cash, available when you need it.
•With the Safety Net, you can re-borrow prepaid funds, in amounts starting from $2,500 subject to meeting certain eligibility criteria.
•The re-borrowed funds are added to your mortgage principal at your existing interest rate for the remainder of the term.
Slow down or Take a Break options apply to principal and interest payments on conventional and default-insured mortgages for owner-occupied single-family dwellings only, including condominiums and duplexes. For mortgages insured against default, customers must have prepaid principal at least equal to the amount of payment(s) to be skipped. Any mortgage insurance premiums and tax payments cannot be skipped. Members currently receiving Mortgage Disability benefits (provided by Canadian Premier) are not eligible for skipped payments. Interest for the skipped payment is added to the principal. The balance of your current mortgage plus the skipped payment must not exceed the original amount of your mortgage with us. For conventional uninsured mortgages, the balance of your current mortgage plus the skipped payment must not exceed 80% of the lesser of your home's present value or the original amount of your mortgage with us.

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