Real Estate

Mortgage deferral on rental properties

  • Last Updated:
  • Apr 11th, 2020 3:31 pm
Jr. Member
Jan 22, 2015
195 posts
51 upvotes
Toronto

Mortgage deferral on rental properties

Are banks deferring mortgagy payments on rental properties too? I have my job but i am unable to make payments because tenants are unable to pay rents on my rental properties. Will banks be able to defer the payments ot no?

Mortgage is with
Home trust
Scotia
Cibc
Last edited by hammadarif on Apr 11th, 2020 11:42 am, edited 1 time in total.
6 replies
Deal Addict
Jul 29, 2006
4253 posts
1078 upvotes
Who is your mortgage with?

Some banks let you apply for it online and it's a simple process.
Jr. Member
Jan 22, 2015
195 posts
51 upvotes
Toronto
Any insight folks .. i am still not clear are bamks defferring rental properties mortgages if you still have your primary job?
My mortgage are with cibc, scotia and home trust.
Deal Addict
Mar 28, 2011
2127 posts
2561 upvotes
Toronto
hammadarif wrote: Any insight folks .. i am still not clear are bamks defferring rental properties mortgages if you still have your primary job?
My mortgage are with cibc, scotia and home trust.
https://www.cbc.ca/news/canada/toronto/ ... -1.5508868

Sounds like you should contact your lenders

CIBC, RBC, TD, BMO and Scotiabank all said that landlords have the option to defer their payments regardless if they carry insured or uninsured mortgages. A few banks, including Scotiabank, give the option to postpone mortgage payments for up to three non-principal residences.
Newbie
Sep 19, 2019
82 posts
56 upvotes
Did it online with TD for a rental property. No questions asked. Approved same day.

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