Mortgage Brokers

Cost of Credit Disclosure Requirements


Mortgage brokers and lenders are required to give cost of credit disclosure for residential mortgage transactions under Part 5 of the Business Practices and Consumer Protection Act. For further information on the requirements, see the links below:

Legislation: Information Bulletins: Cost of Credit Forms and Calculators:
The Business Practices and Consumer Protection Act requires disclosure of specific information, but it does not require that a specific form be used to disclose the required information. Forms commonly used by mortgage brokers and lenders can be found on the Mortgage Brokers Association of BC website at http://www.mbabc.ca/?page_id=12