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 RESIDENTIAL MORTGAGES

We help you finance the home of your dreams, refinance to pay out your high interest debts, leverage your equity in real estate to finance in more properties, help you build your custom home with a construction mortgage or simply renew your current mortgage the best possible way.

 

COMMERCIAL MORTGAGES

Unlike residential mortgages, process of applying for a commercial mortgage can get complicated. Each project is different form others. We strongly recommend that you consult with one of our commercial mortgage brokers and gather as much information as possible to make the process easier.

 

SECOND MORTGAGE

Second Mortgage Loan can be an attractive option for Canadians with a growing household. It can offer your family the opportunity to save money by offering a lower interest rate for credit card debts and other loans. With the assistance of our Mortgages Broker, you can finance your second mortgage.

Understand Your Taxes

Additional Property Transfer Tax

You are charged property transfer tax when you make changes to a property's title, including:

  • acquiring a registered interest in the property
  • gaining an additional registered interest in the property
  • becoming the registered holder of a lease, life estate, or right to purchase for the property

The amount of tax you pay is based on the fair market value of the land and improvements (e.g. buildings) on the date of registration unless you purchase a pre-sold strata unit.

The property transfer tax rate is:

  • 1% on the first $200,000,
  • 2% on the portion of the fair market value greater than $200,000 and up to and including $2,000,000,
  • 3% on the portion of the fair market value greater than $2,000,000, and
  • if the property is residential, a further 2% on the portion of the fair market value greater than $3,000,000 (effective February 21, 2018).

Additional Property Transfer Tax for Foreign Entities & Taxable Trustees

In addition to the property transfer tax, if you are a foreign national, foreign corporation or taxable trustee, you must pay the additional property transfer tax on your proportionate share of a residential property transfer if the property is within specified areas of B.C.

Your proportionate share is the percentage of interest that you are registering on title with the Land Title Office. For example, if you are a foreign entity (foreign national or foreign corporation) acquiring a 70% interest in a property, you pay the additional property transfer tax on 70% acquired interest.

Tax Amount and Specified B.C. Areas

If the property transfer is registered on or before February 20, 2018 and is within the Greater Vancouver Regional District, the tax amount is 15% of the fair market value of your proportionate share.

If the property transfer is registered on or after February 21, 2018 and is within the following areas, the tax amount is 20% of the fair market value of your proportionate share:

  • Capital Regional District
  • Fraser Valley Regional District
  • Greater Vancouver Regional District
  • Regional District of Central Okanagan
  • Regional District of Nanaimo

The additional property transfer tax doesn’t apply to properties located on Tsawwassen First Nation lands.