Do not mortgage with Scotia Bank!!!
Sold my house in July last year, paid additional $18K mortgage early payment penalty due to unprofessional (unethical) Scotia Bank advisor. Before house sale, I confirmed with her no Interest Differential Penalty, only pay 3 months interest penalty. She did not tell me that she just renewed my mortgage and over 6 months need to pay Interest Differential Penalty on fixed term mortgage. I could convert the fixed mortgage to existing home line of credit that time no need to pay $18K Interest Differential Payment...... I went all the way to Banking Ombudsman, they feel sorry for my loss, can't do anything as it is on fine print. Case closed lesson learned. Just curious, how many people know how to calculate interest differential?