The phrase "collateral charges" refers to additional fees or expenses that are tied to a loan or financial agreement. These charges are often associated with a specific asset or property that is used as collateral for the loan. Full definition
Instead, you will likely need to pay fees to discharge your existing collateral charge mortgage and register a new one with the new lender. (bridgewaterbank.ca)
The ease of switching to another lending product by using the existing collateral charge without paying extra fees. (canadianmortgageadvisor.ca)
A reasonable and balanced explanation of collateral charge mortgages is another example. (dustanwoodhouse.ca)