Canada & Ontario mortgage rule watch
See verified rules, programs and important dates without confusing a regulator’s role with an individual lender’s approval policy.
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Clear status labels prevent an announcement or proposal from being mistaken for a rule already in force.
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140 published items match this view. We prioritize the effective date, then the announcement or last-update date.
No. OSFI’s rental-mortgage clarification concerns how federally regulated institutions classify exposures for capital purposes. OSFI has said it does not change how rental income is used to qualify a borrower under Guideline B-20.
Often yes. A material change in use or risk can affect coverage, and changing owner-occupied space to rental or short-term accommodation can also conflict with mortgage occupancy terms. Insurer notice and lender consent are…
No. A sale does not automatically end a tenancy. Vacant possession depends on the agreement, the tenancy, a valid legal ground and completion of the required process.
Possibly, but the landlord must apply to the Landlord and Tenant Board and establish an eligible basis. Spending money on renovations does not automatically permit a larger rent increase.
A former tenant can bring a T5 application alleging bad-faith termination. The LTB may order financial remedies and can find the landlord, purchaser or both responsible depending on the facts.
Purchaser-use termination generally requires at least 60 days’ notice ending on the proper rental-period or lease-term date, plus compensation equal to one month’s rent or an acceptable replacement unit by the required deadline.
For an eligible sale, the purchaser, purchaser’s spouse, specified parents or children, or a qualifying caregiver may support purchaser-use termination. The property and good-faith occupation requirements must also fit.
A federally regulated lender cannot make its optional mortgage life insurance a condition of mortgage approval. It must disclose the cost, obtain express consent and provide cancellation information.
A collateral charge may secure more than the mortgage. To remove or transfer it, other loans or credit lines covered by the charge may need to be repaid or moved, and legal work may…
Federally regulated lenders following the mortgage prepayment information code provide annual information about available privileges, maturity and how to estimate charges.
Federally regulated institutions must explain how the prepayment charge is calculated, including the process or formula and the information needed to estimate it.
Be careful. RRSP contributions made in the 89-day period before an HBP withdrawal may not be deductible when the post-withdrawal RRSP value is insufficient to support the contribution.
A federally regulated financial institution must provide its mortgage renewal statement at least 21 days before the end of the existing term—but waiting for that letter can leave too little time to compare properly.
Yes. The co-signed mortgage can appear as your debt and may be included when another lender measures your obligations. Some lenders may consider documented offsets, but no universal rule makes the debt disappear from…
Not safely as a general rule. Ontario does not automatically exempt a family transfer or a “$1 transfer.” If the child assumes any mortgage or other liability, land transfer tax can apply to that…
It depends on who owns and sells it. CRA says a sale by the estate after death is generally reported on the estate’s T3 return; a later sale by a beneficiary is reported on…
No. Mortgage balance does not determine income tax. CRA generally treats capital property as disposed of at fair market value immediately before death, although a principal-residence exemption or qualifying spouse rollover may reduce or…
Usually not until authority, ownership and the lender’s requirements are clear. A will names an executor, but an estate certificate may still be needed to prove authority to deal with land or obtain financing.
How to read this centre
Sets laws, program requirements or prudential boundaries. FSRA regulates; it does not write every lender’s underwriting policy.
Applies only when the mortgage or client fits that insured product or program. It should not be generalized to every conventional deal.
Decides its own acceptable income, property, credit and exception policy inside the applicable rules.
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