by
Equitable Bank | Jul 04, 2018
We’re pleased to introduce new features in our EQB Evolution Suite<sup>®</sup>* designed to help your clients meet their financing needs.
Equitable Bank Switch program
The Switch program caters to clients looking to switch their mortgage at renewal or transfer mid-term from another lender to Equitable Bank. Our program offers competitive rates, favourable terms and flexible options to help your clients pay down their mortgage faster.
Adjustable Rate Closed Mortgage Enhancement
Prepayment Privilege – Payment Accelerator
The payment accelerator lets your clients increase their regular payment by up to 15%. Your clients can also prepay up to 15% of their original principal amount. These options are available once a year beginning on the Interest Adjustment Date (IAD) or the anniversary of that date.
Prepayment Charge
To support your clients with their adjustable rate mortgage prepayment needs, we’ve changed our prepayment charge to three months’ interest.
These program updates are just another reason why Equitable Bank can help your clients secure their financial future. We hope these options further strengthen your client relationships while opening the door to promising new ones.
*Not available in Quebec.