Mortgage Lender Permit

Apply for a Mortgage Lender Permit. Mortgage lenders need the permit to do business in Nova Scotia. A mortgage lender is someone who lends money that is secured by real property or represents themselves as a mortgage lender.

By law, mortgage lenders must have a Mortgage Lender Permit to lend money secured by real property or represent themselves as a mortgage lender. Your facility may be inspected before you get the permit. The permit is valid for 1 year.

A mortgage lender is someone who lends money that is secured by real property or represents themselves as a mortgage lender.

Legislation changes – Starting 1 November 2021, changes to mortgage industry regulation come into effect. Under the Mortgage Regulation Act, mortgage professionals need to meet education and licensing requirements to operate in Nova Scotia.

Eligibility

If your company lends money secured by real property you need to apply for a permit. You also need to have a permanent place of business in Nova Scotia.

How to apply

Complete the application form.
Check the application for details on all required supporting documents.
Include payment with your application.
Send your completed application, supporting documents and payment by mail or fax.
A Service Nova Scotia inspector may inspect your facility.

How long it takes

It should take 2 weeks to get the permit. It can take longer if more information is needed or if your application hasn’t been filled in correctly.

Cost

Activity	Fee
Permit	$265.45
Additional branches	$33.00

Payment options

Visa, MasterCard, American Express, cheque, money order. A cheque or money order should be made payable to the Minister of Finance. Payment options may vary depending on how you apply.

Before you start

Make sure you have:

permanent place of business in Nova Scotia, with access to files for inspection
Registry of Joint Stock Companies number
3-year employment history for you and any partners and officers
address and manager’s name for all branches

You also need to provide details if you or any partner, officer or director has:

been previously licensed or registered under any provincial or federal statute
had a licence refused, suspended, or revoked
been involved in a personal or corporate bankruptcy
unpaid judgments outstanding
been convicted of an offence and not been pardoned

You need to provide additional supporting documents including:

list of lenders you will be referring borrowers to
sample mortgage loan documents that will be used in Nova Scotia
sample borrower’s annual statement
statement of disclosure

Application form

Business Licensing and Registration - Business Application Form (PDF 629 kB)

Renewal

You need to renew your Mortgage Lender Permit each year. You should get a renewal package in the mail before the renewal date. It’s your responsibility to renew on time.