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Blog by Irene Wong & Mike Mulligan

Financing the Property Transfer Tax (PTT). Is it possible? It depends

July 11th, 2007

Is there federal government legislation or policy that prohibits financing the PTT?  No. There is no federal government legislation or policy that prohibits the financing of the PTT, including the Bank Act, which does not restrict financing the PTT. However, the Bank Act, section 418 (1) governs the loan-to-value ratio for mortgage insurance. It requires borrowers of any mortgage with a loan- ...