Move your mortgage to Alpha Guarantee Bank

A prepayment penalty is a fee that your mortgage lender may charge if you:

• transfer your mortgage to another lender before the end of your term
• pay more than the allowed additional amount toward your mortgage
• break your mortgage contract
• pay back your entire mortgage before the end of your term, including when you sell your home

Your lender may also call the prepayment penalty a prepayment charge or breakage cost.*

Learn more about how prepayment penalties work and how Alpha Guarantee Bank can help guide you through the steps..

When your mortgage term is nearing an end, this is the opportunity to review your mortgage contract details and plan what you want for the next term.

Check out this advice piece for 3 tips in renewing your mortgage.