Canada’s big banks, credit unions, mortgage insurers and non-bank mortgage lenders have provided announcements regarding mortgage deferrals for Canadians affected by COVID-19 and unable to meet monthly mortgage payment requirements. Below are listed all available lender responses with clickable links to lender websites.
Canadians have been hit hard by unemployment due to COVID-19 and it’s important for folks to understand exactly how their lender is handling mortgage deferrals.
As referenced in a previous blog (COVID deferral info), all lenders have payment skip or payment hold options that you can utilize outside of the announced 6-month deferrals.
Also, mortgage deferrals are not being offered in the same way by every lender. All mortgage payment deferral applications are being done case by case before payment relief is granted. See 6 Mortgage Deferral Facts to learn more about deferrals.