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To help you avoid prepayment charges, Tangerine has a few options you can take advantage of.
First, if you increase your payment frequency to accelerated weekly or accelerated bi-weekly, you can make an extra month’s worth of payments within in a year without the strain on your wallet.
You can also take advantage of our 25/25 prepayment options:
Increase your payments by up to 25% of your original payment amount every year.
No anniversary dates: make lump sum payments totaling up to 25% of your original mortgage amount on any payment date.
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Tangerine is a trade name of Tangerine Bank, a wholly-owned subsidiary of The Bank of Nova Scotia and a CDIC member in its own right.