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- ...