At Garth Financial, Scotia Bank is one of our premier lending partners, offering exclusive low mortgage rates to our Powell River clients. These rates, available only through the broker channel, are not offered in-branch and are the result of our strong partnership with Scotia. With over $20 million in mortgage volume submitted annually, Scotia rewards our clients with some of the most competitive rates available.
Why Work With Us for Your Scotia Bank Mortgage?
Let us handle the negotiations for you. Thanks to the high volume of business we bring to Scotia, we receive their best rates upfront—no back-and-forth needed. Over the years, we’ve built a strong relationship with Scotia, and we deeply understand their lending policies. This expertise allows us to structure your mortgage application efficiently, ensuring fast approvals. In fact, we typically receive responses from Scotia and their insurers within 6 hours.
Scotia’s Mortgage Features and Benefits
Scotia Bank offers a variety of features designed to make homeownership and borrowing more flexible and convenient:
15% Monthly Payment Increases: Increase your payments to pay down your mortgage faster.
15% Annual Lump Sum Payments: Pay up to 15% of your original mortgage balance as a lump sum each year.
Double-Up Payments: Make double payments to reduce your mortgage balance faster.
90-Day Rate Hold: Lock in your rate for 90 days to protect yourself from potential rate increases.
30-Year Amortization with 20% Down: Stretch your payments over 30 years when you put down 20% or more.
Skip-A-Payment Option: If you’ve prepaid the equivalent of one month’s mortgage payment, you can skip a payment within the same year.
Portability: Port your mortgage to a new home if you sell before your term ends.
Purchase Plus Improvements Mortgage
If you find the perfect home in Powell River but want to make upgrades (like new flooring or a fresh coat of paint), Scotia’s Purchase Plus Improvements loan has you covered.
Simply submit a quote for the planned improvements along with your purchase offer.
Upon approval, the improvement funds are held back by your lawyer and released after the work is completed (usually within 90 days, though exceptions can be made for seasonal delays).
An inspection confirms the work is done, and the funds are then released to you.
A One-Stop Shop for Your Financial Needs
Scotia Bank is more than just a mortgage provider—they offer a wide range of banking and borrowing solutions, including unsecured loans and credit cards. Consolidating your financial needs with Scotia simplifies your banking and ensures you benefit from their competitive rates across all products.
Work With Powell River’s Top Mortgage Brokers
At Garth Financial, we’re committed to delivering exceptional client service and finding the best mortgage solutions for you. Call us today to explore the exclusive rates offered through Scotia Bank, or apply online to get started on your journey to homeownership or home improvement.