Canadian banks to allow deferral of mortgage payments - DN Mortgages

Canada six’s largest banks have announced they will be allowing the deferral of mortgage payments for up to six months amid the coronavirus pandemic.

Bank of Montreal, CIBC, TD Canada, National Bank of Canada, RBC Royal Bank and Scotiabank say their plans will help those affected by the financial consequences of COVID-19.

There will also be an opportunity for relief on credit products.

They are encouraging individual Canadians and small businesses owners to contact their bank directly to discuss the options available to them.