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As a part of FCT’s mandate to ensure we are delivering the best products and services to the Canadian mortgage market, we have undergone an analysis of our Platinum Services pricing model.
We are pleased to announce that effective September 6th 2016; we are implementing a standardized pricing model by province for our Platinum Services refinance solution. This will provide you with a consistent base price regardless of which Platinum Lender you choose, making it easier for you to process your deals through FCT and quote your borrowers up front.
Additionally, with the new pricing model in effect the majority of our fees for each province have decreased, making FCT a more competitive choice for both you and your borrowers.
New Pricing Model
The new fees will apply to any transactions received by FCT on or after September 6th, 2016.
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Province
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Platinum Refinance
(all-in price)
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Additional Fees for Mortgage Registration & Conversion
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Collateral Switch
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ON
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806.00
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766.00
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AB
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608.00
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$1.00 per $5,000.00
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568.00
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BC
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629.50
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589.50 |
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SK
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739.79
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$77.30 for each title over four (4)
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699.79 |
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MB
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775.00
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735.00 |
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NB
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798.50
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$312.00 for properties requiring conversion
$85.00 per additional PID
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758.50 |
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PEI
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925.00
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Conventional – variable:
$0 - $9,999 - $77.25
$10,000-$19,999 - $103.00
$20,000-$49,999 - $154.55
$50,000-$99,999 - $231.80
$100,000-$149,999 - $309.10
$150,000-$199,999 - $386.40
$200,000 & over - $463.65
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885.00 |
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NL
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891.50
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$0.40 per $100.00
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851.50 |
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NS
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798.55
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$460.00 for properties requiring conversion
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758.55 |
Insurance Premiums
For mortgages over $750,000.00, additional premiums apply as follows. In British Columbia the additional premium applies only for mortgage amounts greater than $1,000,000.00:
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Mortgage Amount
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Additional Premium
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Tax on Premium
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$750,000.01 to less than or equal to $1,000,000.00
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$100
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ON - $ 8.00
NF - $15.00
MB- $ 8.00
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$1,000,000.01 to less than or equal to $1,500,000.00
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$250
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ON - $20.00
NF - $37.50
MB - $20.00
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$1,500,000.01 to less than or equal to $2,000,000.00
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$350
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ON - $28.00
NF - $52.50
MB - $28.00
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$2,000,000.01 to less than or equal to $5,000,000.00
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$750
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ON -$ 60.00
NF - $112.50
MB - $ 60.00
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*NEW TIER*
$5,000,000.01 and Over
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$0.65 per $1000
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Taxes will vary depending on province and the amount over $5,000,000.01
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Other Services
Some Lenders charge variable costs in addition to our Platinum Services refinance fee. Please review the other services that may be required depending on the lender.
Additional Signing Appointment
Should a second Signing Appointment be required, an additional fee of $100.00 will apply plus applicable taxes. In BC, if the appointment with the Witnessing Agent is cancelled less than four hours prior to the appointment time, a $47.25 fee inclusive of taxes will apply.
Tax Service
$27.00 FCT admin fee + tax certificate cost * National excl. QC & NFLD
The $27.00 FCT fee includes:
- FCT orders the Tax Search
- FCT follows up with the appropriate municipality to ensure request is being processed
- FCT uploads the Tax Search to the Lender portal upon receipt
- Courier Costs
*This cost will vary via municipality and will be charged in addition to the FCT admin fee
As we continue to improve and evolve our Platinum Service offering, we look forward to sharing with you further enhancements in the near future.
If you have any questions or concerns on the Platinum Services pricing standardization, please contact your dedicated business development manager.
Thank you for choosing FCT.
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