Fees and Service Charges

Bridgewater Bank charges fees for providing administrative, clerical and other services. These fees are subject to change without notice. As of October 15, 2014, Bridgewater Bank’s fees include, but are not limited to, the following:


Payment Related Fees
Non-Payment Fee (e.g. non-sufficient funds (NSF), returned or refused payments) $75
Changes to payment frequency or payment date  $25
Change Fee
A change fee is described as changing either the borrowing structure, mortgage structure or underlying security of the mortgage. Changes are subject to the approval of Bridgewater Bank. Fees are charged regardless if the change is approved or not. A change fee is applicable on the following: assumptions, porting the mortgage to a new property, second mortgage, refinance and release of Borrower from mortgage.
Full or Partial Discharge Fee
Alberta No Charge
British Columbia  $75
Manitoba  $100
All other provinces  $400
Mortgage Assignment/Transfer Fee
Prince Edward Island  $25
Nova Scotia  $25
Newfoundland & Labrador  $50
All other provinces  $400
Servicing Fees
Additional Annual Mortgage Statement (one annual statement is provided at no charge)  $50
Duplicate copies of documentation (e.g. discharge documents, assignments)  $50
Information Statement (one information statement is provided when requested every 3 months at no charge)  $25
Payout Statement (one payout statement is provided when requested every 3 months at no charge)  $25
Payment History Breakdown $60 per hour
Lender Acceptance Fee (if applicable) Up to 2% of mortgage amount
Management Administration Fees
Property Tax Search Fee
Investigation of property tax status if not received directly by customer
Property Insurance Administration
This fee is incurred when property insurance lapses and the Bank is required to place property insurance on the mortgage property to protect the asset
$500 per quarter
Arrears Processing
Arrears management fee for condo fees, property tax arrears and utilities arrears
Mortgage Reinstatement
Charged in the event a mortgage is recovered from legal status
Prepayment Charges also apply to mortgages when making payments in excess of available prepayment privileges or paying out a closed mortgage prior to maturity. Refer to your Disclosure Statement for information about charges which apply to you.
You can download the Service Fees PDF by clicking here.
Fees and service charges are subject to change without notice