Terms and Conditions

This offer only applies for mortgage applications received from May 3, 2014 to October 31, 2014, and closing prior to January 15, 2015. This offer only applies to owner/non-owner occupied residential properties. Customers must comply with the Terms and Conditions of the Scotiabank Home Program Campaign and all other applicable Scotiabank products, including the transactional account and automatic debit. If customers do not wish to open a transactional account, they are not eligible to receive this special mortgage incentive program and will only qualify for the existing mortgage Switch or Acquisition rates. This offer does not apply to non-resident customers. Legal Fees covered by Scotiabank only apply to Switch Mortgages. The mortgage payment example illustrated above only applies to switch customers who qualify for our best customer rate. Maximum financing is subject to certain terms and conditions and applicants meeting credit approval. Applicable terms and conditions can vary at any time, at Scotiabank’s sole discretion, without giving any notice.

Eligible account and eligible products must be open and active, as follows:

Transactional Account:

  • Customer must have an automatic debit in place to service the mortgage loan.

Credit Card:

  • Account must stay open for the term of the mortgage loan. Credit card account must be in good standing.
  • Applicable to any Credit Card that the customer decides to acquire, subject to credit approval.
  • The customer needs to qualify for the product under the existing credit policies.

ScotiaLine:

  • Account must stay open for the term of the mortgage loan. Scotialine account must be in good standing.
  • The customer needs to qualify for the product under the existing credit policies.

Personal Loan:

  • Account must stay open for the term of the mortgage loan. Personal Loan account must be in good standing.
  • The customer needs to qualify for the product under the existing credit policies.

Overdraft:

  • Account must stay open for the term of the mortgage loan. Overdraft account must be in good standing.
  • The customer needs to qualify for the product under the existing credit policies.

Insurance:

  • Customer’s Creditor Life or Scotia Home Protection Plan insurance coverage must have been approved by the insurer and be in effect.

Legal Fees:

  • The payment of Switch fees is based on the LESSER of:
    • Actual Switch Fees; OR
    • Switch fees as percentage of mortgage amount; OR
    • Maximum dollar limit (Based off maximum loan amount USD equivalent)