Can a mortgage be transferred to purchase two different properties without penalties? I live in BC Canada.


Possibly, but it depends entirely on your lender and the kind of mortgage you have with them.

You'll need to find out if your existing mortgage is portable – and some are not, unless you negotiated the feature with your lender. Check your mortgage contract.

You'll also need to understand under what circumstances your lender would agree to port your mortgage to another property. Porting is subject to their approval, and the rules and limitations vary by lender.

Then, even if your lender supports porting your specific kind of mortgage to another property, doing a port & splitting your mortgage to end up with two distinct properties might be too unusual and they might not agree to it. But you'll need to ask them to know for sure.

So, you really need to contact your lender to get this answered definitively. You might also consider talking to a mortgage broker and see if there are other options to end up where you want to go.

Here are a few articles on the subject of mortgage portability, to inform yourself a little further:

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