Haventree Bank - Notice To Broker

This is a reminder that Haventree Bank will reduce the maximum amortization period offered at commitment from 40 years to 35 years, effective February 28, 2023.

Last spring as rates began to rise, Haventree Bank increased its maximum amortization period from 30 years to 35 years to help Canadian borrowers prepare for the fight against inflation. As rates continued to increase into the summer, we again raised our maximum amortization to 40 years to provide a mechanism at origination that would be available to borrowers at the peak of the interest rate cycle.

This new year forecasts a different interest rate dynamic; one that is predicted to see rates stabilize and begin to decrease as inflation abates. On that basis, Haventree Bank will reduce the maximum amortization period offered at commitment from 40 years to 35 years, effective February 28, 2023.

The Haventree Bank brand is widely recognized for its empathetic quality. The expression of our amortization policy in 2022 for new customers is testimony to our support of Canadian borrowers and the professional mortgage brokers we serve.