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B.C. court: Unsecured $1,000 per day mortgage extension fee not invalidated by Interest Act

By Karunjit Singh ( November 24, 2023, 2:10 PM EST) -- The B.C. Supreme Court has ruled that a daily extension fee of $1,000 negotiated between a mortgagor in default and a mortgagee was not subject to interest rate restrictions under the Interest Act, as it was not secured by the mortgage....

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