Select a location from above to display BDMs
Contact a BDM
Manager, B2B Solutions
Jason Provencher Phone: 403.472.7340 Toll Free: 1.888.472.7340 Fax: 403.718.3042 jprovencher@bridgewaterbank.ca
British Columbia
Yvonne Futter Phone: 604.506.7114 Toll Free: 1.866.867.1777 Fax: 403.718.3042 yfutter@bridgewaterbank.ca
Edmonton, central & northern Alberta
Laura Cook Phone: 587.341.4160 Toll Free: 1.844.430.4846 lcook@bridgewaterbank.ca
Ontario north, central & Niagara region
Matt Royston Phone: 705.730.9387 Toll Free: 1.855.730.9387 mroyston@bridgewaterbank.ca
Select a location from above to display BDMs
Contact a BDM
Manager, B2B Solutions
Jason Provencher
Phone: 403.472.7340
Toll Free: 1.888.472.7340
Fax: 403.718.3042
jprovencher@bridgewaterbank.ca
British Columbia
Yvonne Futter
Phone: 604.506.7114
Toll Free: 1.866.867.1777
Fax: 403.718.3042
yfutter@bridgewaterbank.ca
Edmonton, central & northern Alberta
Laura Cook
Phone: 587.341.4160
Toll Free: 1.844.430.4846
lcook@bridgewaterbank.ca
Ontario north, central & Niagara region
Matt Royston
Phone: 705.730.9387
Toll Free: 1.855.730.9387
mroyston@bridgewaterbank.ca

Fixed or Open? We give your borrowers an option.

Fixed terms are the norm for most borrowers, but can leave your client locked into their rate and subject to a prepayment charge should they wish to pay out their loan early.

What if your client is expecting a change in their circumstances in the near future? An open term might be the right solution. In an open term, the loan can be paid off at any time without incurring a prepayment charge.

Open term mortgages are great for borrowers who:

  • are planning to move within 12 months
  • are expecting a financial windfall that would exceed prepayment privileges granted under a fixed term mortgage
  • need short term cash to invest in a business or start-up
  • are going through the settlement of a divorce or separation

Open terms tend to have a higher interest rate, but provide value by not having a prepayment charge to contend with. The term is designed for flexibility ensuring that the higher interest rate is only short term. When your client’s situation firms up, they can convert into a fixed term at any time.

Bridgewater Bank Gateway Open Mortgage

The Gateway Open Mortgage by Bridgewater Bank provides a short term open mortgage solution for your client’s needs. Reach out to our BDMs today to see what Bridgewater Bank can do for you and your client. For more detailed information, find out more on our Gateway Open Mortgage product page.

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