Do I need a notary to switch mortgage lenders in Quebec?

Yes — mortgage registration in Quebec is notarial. On a competitive switch the new lender often pays the notary's transfer fees; ask for that in the written offer.

Is Desjardins subject to the federal stress test?

No — Desjardins is provincially regulated by the AMF, not OSFI. It applies its own prudence standards, but has more flexibility than the federally regulated banks.

Homeowner guide · Quebec

Mortgage renewal in Quebec

Mortgage renewal in Quebec follows the same federal timeline and stress-test rules as the rest of Canada, with one distinct player: Desjardins, the provincially regulated cooperative that holds a large share of Quebec mortgages. Mortgage brokerage in Quebec is overseen by the AMF (Autorité des marchés financiers), and all mortgage documents are available in French — lenders operating in Quebec are used to closing in either language.

Oversees Quebec mortgage brokerage: AMF
Provincially regulated and a major renewal competitor: Desjardins
On straight switches since Nov 21, 2024: No stress test

Shopping your renewal in Quebec

Quebec's market is unusual in how much of it sits with Desjardins. As a provincially regulated cooperative, it isn't bound by OSFI's guideline, and it competes hard on renewals — so a Desjardins quote belongs in your comparison whether or not you bank there. National banks and broker-channel monolines round out the market as elsewhere.

Switching lenders in Quebec runs through a notary rather than a lawyer — Quebec's civil-law equivalent for real estate. On a straight switch the new lender frequently covers the notarial transfer costs; confirm that in writing as part of the offer.

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Mortgage renewal in Quebec — FAQ

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Mortgage renewal in other provinces

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