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New Rule Targets HELOC Holders Seeking a Second Mortgage

“Many of the rule changes over the past 10 years have made it really hard to buy a home beyond your primary residence,” he said. “This rule change is focused squarely on that. It has no effect on your owner-occupied residence, but will make it more difficult to purchase a second home or rental property. Many clients will be forced to choose between the security of having a credit facility should they require it, and purchasing that second property.”

Tories plan to make B-20 election issue

The Conservative Party of Canada will make B-20 a hot button issue during next year’s election. The party’s Deputy Shadow Minister for Finance has already tabled two motions, both of which were rejected by the Liberals, to study B-20’s effects.