What Is A Standard Charge Mortgage?

WHAT IS A STANDARD CHARGE MORTGAGE?

When your mortgage is registered with the Land Title Office as a Collateral Charge or a Standard Charge.

A standard charge mortgage registers your mortgage for the exact amount owing. 

For example, Jane Smith owes $367,450 on her mortgage.  As a standard charge mortgage, it would be registered with the Land Title Office for exactly $367,450.