Switch to Scotiabank program1
Right for you if you want a hassle-free way to transfer your mortgage to Scotiabank
Switching your mortgage is easy. Once you provide us with your mortgage details, you can take advantage of our limited time offers and customize your terms under the Switch to Scotiabank Program!
Own a home, not a mortgage. Scotiabank provides mortgage tools and advice that can help you become mortgage-free faster and easier.
Take advantage of the Scotia Total Equity® Plan (STEP). Unique to Scotiabank, the STEP can help you achieve your goals by making your home equity work for you. Mix and match different Scotiabank credit products based on your needs.3 STEP can be initially set up with a borrowing limit of up to 80% of your home's value, including up to 65% for line of credit products.
- Mortgages: Manage your interest rate risk by splitting your mortgage into 2 or 3 different types of mortgages and terms
- ScotiaLine Personal Line of Credit: Take advantage of your available home equity by including a ScotiaLine under your STEP. For the ultimate convenience, set up the STEP Automatic Limit Increase feature and automatically increase the credit limit of your ScotiaLine as you pay down the principal of your mortgage. 4
Scotia Mortgage Protection can help make sure the home you worked so hard for is protected.
Earn up to $550 with a Scotiabank banking package and TFSA or RRSP6.
Plus, pay no monthly account fees for up to a year by setting recurring payments to a new or renewed Scotiabank eligible mortgage7.
It's easy to achieve your goals.
Mortgage-Free Faster Calculator
Discover how small changes can have a big effect. This tool will show you how you can be mortgage-free faster.
What can I afford?
Find out how much, so you can arrange your mortgage and shop for a home with confidence.
Learn how to save by using the equity in your home to borrow at lower interest rates.
Find out what your mortgage payments will be, so you can ensure your mortgage fits your budget.
Find out what your mortgage prerepayment charge will be, so you can be mortgage-free faster.
We are pleased to announce our Mortgage Switch Offers:
Apply with one of our Home Financing Advisors today and get up to $1,200 towards your applicable switch fees.2
- Minimum mortgage balance of $100,000.
- Offer is valid for all closed fixed rate mortgages with a 3 year term or greater, and the closed variable rate mortgage with a 5 year term.
For more information, please contact a Home Financing Advisor near you.
Now you can switch your mortgage to Scotiabank online through eHOME5:
Customers who switch their mortgage online will receive preferred mortgage rates and save up to $300 in appraisal fees. In addition to covering your appraisal fee, receive $500 cashback to help cover your switch costs.
- Minimum mortgage balance of $100,000.
- Offer is valid for all closed fixed rate mortgages with a 2, 3, 4, 5 year term, and the closed variable rate mortgage with a 5 year term.
- Online applications only eligible for a home that you will live in (Rental properties are not eligible).
- eHOME switch and this eHome switch offer is not available in Quebec.
If you are ready to switch now you can start your application online through eHOME.
Make an appointment with a Home Financing Advisor
Talk to a Home Financing Advisor on the phone or at a location of your choice.
Apply online with eHOME
You can be pre-approved, search for a home, and get a mortgage all in one place with Scotiabank’s online mortgage application process.
Registered trademark of The Bank of Nova Scotia.
No monthly account fees for a year offer conditions: To qualify for a monthly account fee waiver on a new Preferred or Ultimate Package for up to 1 year (the “Offer”), you must:
- (i) Open a new or transfer an existing Eligible Mortgage (as defined below), which is funded between October 1, 2022 and July 31, 2024 or (ii) renew your existing Scotiabank Eligible Mortgage between October 1, 2022 and July 31, 2024;
- Open a new Ultimate Package or Preferred Package (each a “Package”) within 120 days before or after funding/renewal date, as applicable; and
- Within 60 days of Package opening and Eligible Mortgage funding/renewal (whichever occurs later), set up recurring Pre-Authorized Debit (PAD) mortgage payments from the new Ultimate Package or Preferred Package.
- The monthly Package account fee waiver will begin immediately upon the later of Package opening and Eligible Mortgage funding/renewal and will continue for as long as the PAD mortgage payment for the Eligible Mortgage continues to be withdrawn from the Package, up to a maximum of 1 year. All other applicable service charges on the Package will continue to be applied.
The Offer is only available on eligible new Scotiabank residential mortgages, transfers of existing eligible residential mortgages from another lender or financial institution to The Bank of Nova Scotia, and renewals of existing eligible residential Scotiabank mortgages. The minimum mortgage amount must be $100,000 and the mortgage must be set up as a residential closed term mortgage with a term of at least 1 year (each an “Eligible Mortgage”). Refinancings and applications for increases to existing Scotiabank mortgage amounts are excluded from this Offer. All mortgage applications are subject to meeting Scotiabank's standard credit criteria, residential mortgage standards and maximum permitted loan amounts. If transferring an existing Eligible Mortgage, prepayment charges with your current lender may be applicable if the mortgage has not reached its maturity date.
To qualify, the primary borrower or any co-borrower(s) of the Eligible Mortgage must not be current holders of a Scotiabank Chequing Account (as defined below) or be previous holders of a Scotiabank Chequing Account within the last two (2) years. “Scotiabank Chequing Account” means any of the following accounts: Ultimate Package, Preferred Package, Scotia One Account, Basic Plus Bank Account, Basic Banking Plan, Basic Bank Account, Momentum Chequing, Power Chequing, Scotia One Service, Scotia Value, Student Banking Advantage Plan. Employees of Scotiabank are also not eligible for the Offers.
This Offer may be changed, withdrawn, suspended or extended any time without notice.