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@leafis Generally yes, that is one factor to consider when selling. There are other factors (maybe your needs change, maybe you need more space because of a growing family, maybe you're downsizing, whatever) but a big penalty will impact the decision to sell. If someone is thinking of selling...

@leafis In terms of converting from variable to fixed (or fixed to variable), different lenders have different rules. What I am talking about specifically is breaking the mortgage. If you want to sell your house, you have to "break" the mortgage and pay it out entirely. It's called breaking...

@resjudicata Definitely. Porting is a good way to avoid the penalty. Depending on the value of the mortgage on the new property vs. the old property, some or all of the penalty can be refunded.

@nt4maximusd Variable rate mortgages often cost less to break. The penalty to break a fixed rate mortgage can be high but usually variable rate mortgages only cost three months interest to break. If you're thinking of selling or refinancing at some point in the near future, variable could be...

@protorayish One thing I'd like to point out. For point 2, lines of credit can be secured against property. It's not universal, your credit card wouldn't be secured for example. But people can and do get them registered.