Scotiabank mortgage questions

If Scotiabank is one of the lenders you are comparing, ask for the complete cost picture rather than comparing interest rates alone.

Monthly payment

Ask for an illustration based on the purchase price, deposit and term you are considering.

Fees before drawdown

List the bank, valuation, legal and insurance costs that have to be paid before the mortgage is completed.

Changes during the term

Ask what happens to the payment if the interest rate changes and what options exist if you want to reduce the balance faster.