In what circumstances would I be charged a prepayment charge?

A few things can cause you to pay a prepayment charge. Please see below for potential reasons:

• If you prepay more than the 25/25 prepayment options
• If you refinance and select a lower posted rate instead of the blend and extend option, or pay off your mortgage (sale of home included) before the end of your existing term
• If you transfer your mortgage from Tangerine to another financial institution before the end of your existing term