Tell us about your mortgage to lock in an exclusive switch offer valued up to $2,000!*
Life comes next.
Start with the Scotia Total Equity® Plan (STEP).
You can get a bonus valued at up to $2,000 when you switch your mortgage to our STEP.
To activate this offer, all we need from you is a few details about your current mortgage, including your maturity date and rate, and we will contact you when the time is right to unlock your benefits under the STEP.
Why switch your mortgage to a STEP?
STEP is an exclusive borrowing solution that provides the ultimate flexibility and control over your borrowing needs – now and for the future.
Ultimate Borrowing Power
Secure your borrowing power for the future. As you pay down your mortgage, the equity in your home continues to grow. You can borrow up to 80% of your home equity so you're ready for what comes next in life.
Your Equity, Your Choice
Use your home equity whenever, however you need it. Consolidate debt, upgrade your family car, invest in a new property, or simply prepare for the unexpected. Choose from a broad range of borrowing products under STEP — the possibilities are endless.
Not ready to switch your mortgage yet?
No problem! We’re ready when you are. Once we have your mortgage details, we’ll contact you closer to your maturity date. It will take less than 2 minutes!
Here are some helpful links
STEP Calculator
Find out how you can unlock the equity in your home to achieve the goals that you have, now and in the future!
Scotiabank mortgages
Find out more about the different options available to you based on your homeownership needs.
Helpful advice by appointment
Our mortgage Advisors customize mortgage solutions to your needs, so you can enjoy your home knowing you made the right decision.
The Switch Bonus Offer (the “Offer”) is only available on transfers of existing mortgages from another lender or financial institution (“Current Lender”) to The Bank of Nova Scotia (“Scotiabank”) with a minimum mortgage amount of $100,000. The new mortgage must be set up as a closed fixed rate mortgage with a term of 5 years or more or a closed variable term mortgage with a term of 5 years. The mortgage application must be funded within 120 days of the application date. All mortgage applications are subject to meeting Scotiabank's standard credit criteria, residential mortgage standards and maximum permitted loan amounts. Prepayment charges with your Current Lender may be applicable if the mortgage has not reached its maturity date.
Subject to meeting the above conditions, within 5 days of closing, Scotiabank will deposit $1,600 to the account designated by the primary borrower for mortgage payments. The Switch Bonus Offer (the “Offer) is valid in connection with the maturity date that was provided. The mortgage application must be submitted by the applicant directly to Scotiabank and funded within 120 days of the application date.
In the event the mortgage is assumed, paid out, transferred, or renewed prior to the expiry of the mortgage term, the $1,600 will be treated as cashback and will be repayable to Scotiabank. The cashback amount may appear as an additional charge payable in any discharge or renewal statement and will be calculated on an even prorated basis using a standard formula. Scotiabank will also cover up to a maximum of $400 towards any discharge or assignment fee (other than any prepayment charges) charged by the Current Lender in connection with the mortgage transfer (if the Current Lender charges such fees). This amount will be paid by Scotiabank directly to the Current Lender, as applicable. This offer may be changed, withdrawn, suspended or extended at any time with or without notice and may not be combined with any other discounts, offers, or promotions.
Some mortgage solutions may not be eligible to be included as part of a Scotia Total Equity® Plan.